Private PlacementHi Guys,
I Check out Canadian Insider and noticed there's no insider transaction since the consolidation so that means 2 things in my opinion.
1) Insiders didn't participated in the offering (red flag as that means they didn't believe in it themselves, remember this is a micro company, so insider trading is rampant, if they believe in the company, they will participate in the 10c offering if they know stock will go up to $1 by year end).
2) PP isn't closed yet, which begs the question, why? This is more of a neutral situation in my opinion, again, it's a micro company and PP doesn't use broker. it could be good or bad.
Since PP should close on Feb 28th, it takes 2 business days to settle the shares, we supposed to see insider transaction on Mar 2, but nothing today. Hence, I brought up this topic.
Nonetheless, i'm still watching on sideline. This stock could be a 20x bagger or dead money... looking forward to see the answer