Skin in the Game
Further:
It can be taken as a positive sign (opinions may differ) when the Directors and the CFO (the ultimate insiders) take up or add to direct ownership -- especially when they all considered .16 as fair valuation for "compensation for services" when the market said ".115".
Now the cynic may say "What services?" but the lights are still on in the garage, if not yet at the Blasted Portal, and Dan Gagnon (who did not participate the "compensation for services" plan, but no doubt is being paid from the bridge loan) remains the experienced steel toes on the ground sorting things out. Green triangle safety for shareholders if the ball is dropped again
And that exchange rate of .16 just a few weeks (15 October) after the celestial debt holders considered .25 as representative of a fair exchange for paper instruments shows that maybe the fade away to 11 cents was related to tax loss selling advantages or year-end book squaring in a market devoid of buyers, or just plain fed-up dumping.The next few weeks may give a better sign about that, if larger positions are opened "for a future fortune" on the books at the end of 2022
Paper shuflfing? In the upcoming Chinese Year of the Tiger? Or ore out the door?
Still, even with the debt columns being nobly sanitized, and insider holdings being concentrated, it would additionally serve to have the wayward smelted Gold from the Humon in China show up on the refined books rather than dealing with another Paper Tiger in Timmins.
At least it would be a sign of how things are or are not working "as planned" on the Porcupine Roads.
Reported December 30 2021 as "Compensation for Services"
Director Elliott, C. Fraser: Common Shares 0.160 / 275,000 / 3.7% (7,615,551)
Director Farsangi, Parviz: Common Shares 0.160 / 250,000 / > 100% (250,000)
CFO Huang, Demin: Common Shares 0.160 / 218,750 / > 100% (433,250)
Director Quintiliani, Peter: Common Shares 0.160 / 275,000 / 23.2% (1,460,459)
Director Wu, Yungang: Common Shares 0.160 / 234,894 / 84.1% (514,269)
Director Yuan, Meirong Common Shares 0.160 / 250,000 / > 100% (496,875)