GREY:ATBPF - Post by User
Post by
Montana5on Jun 07, 2020 2:59pm
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Post# 31121969
Holdings
HoldingsI'm going to focus on Legault and Wallace only. Legault converted 1.75mm options (approximately 34% of his balance) between 14.5-33 cents, leaving a balance of 3,380,206 options. He then sold all 1.75mm of the newly converted shares for between 60 and 61 cents, leaving him a direct balance of 300,000 common shares. He also indirectly owns 296,660 shares. He has 6.79mm RSUs and 57,500 warrants.
Wallace converted 2.5mm options (approximately 45% of his balance) between 14-33 cents, leaving a balance of 3.1mm options. He then sold all 2.5mm of the newly converted shares for 60 cents, leaving him a direct balance of 276,770 common shares. He also indirectly sold 225,000 common shares leaving him a balance of 400,000 shares owned indirectly. He has 6.05mm RSUs and no warrants.
Can you blame these two for selling? No. In the end, if the company is acquired, why not take a little off the top now because upon a future sale, the options, RSUs and warrants mean nothing. Optically, it is puzzling in spite of the recent Phase 2 results. But it does make sense if a future sale is immenent. The hiring of Batal (Commercial Strategy) and Stauffer (CMO) was for a purpose. If you truly believe in the potential of this company, I wouldn't worry about Legault and Wallace reaping some long awaited benefits.