Douglas Lake Minerals Inc DLKM

Uh...oh

[stockarchangel]

Along with all the other BS, it now appears our beloved CEO was dumping 600,000 shares at .25, and an additional 20,000 at .3255 from March 6-27.  For all the conspiracy theorists who always question "who's selling down here" - your answer can be found in the latest SEC documents.   Yeah, I know, there will be several replies to this message stating "maybe he needed to raise funds to send his children to college" or "he needed a down payment on the new house."  I've heard it all at one time or another.  LOL.

[coconuts11]

Sangha, Harpreet Insider's Relationship to Issuer: 4 - Director of Issuer, 5 - Senior Officer of Issuer

[jois1]

$125000?  I live in Vancouver myself...... most expensive city in Canada.JMO..... No biggie.  Not like he sold when it was in the .40's.I took your bait Stock!  8)

[tobinator01]

I spoke with Harp concerning the sale and a few other items.  He was worried the trade might be interpreted badly.  His reason for selling was not for any need for personal expenses.  As a big shareholder told me recently,  that Harp has only taken a very small salary over the last year something under $20k.  He explained he was contacted by a big buyer and someone wishing

[stockarchangel]

OK, I'll play the devil's advocate, WHEN THE "F" did he receive 10,000,000 options at a quarter?  I don't remember EVER seeing that in any filing. That would give him about 17% of the company if exercised, which is pretty ludicrous for an incentive package.  What else don't we know?

[tobinator01]

stockarch, I may have spoken out of turn as that figure was from memory that I thought was news released late last year, which I can't find.  I do remember on commenting on it in a post at the time.  More specifically it seems like that news came out after the voted increase in authorized shares.

[tobinator01]

The S8 came out December 30, 2008 and I have linked it here: https://app.quotemedia.com/quotetools/showFiling.go?name=DOUGLAS%20LAKE%20MINERALS%20INC.:%20S-8,%20Sub-Doc%201&link=http%3A//quotemedia.10kwizard.com/filing.xml%3Frid%3D12%26ipage%3D6046682%26DSEQ%3D1%26SQDESC%3DSECTION_BODY%26doc%3D1&cp=off&type=HTML While I think for the type of work, stress and lack of salary, Harp

[coconuts11]

From Financials5. Related Party Transactionsa) As at November 30, 2008, the Company owed the former President of the Company $47,788 (May 31, 2008 - $47,788) which is noninterestbearing, unsecured and due on demand.b) During the six month period ended November 30, 2008, the Company incurred $189,264 (2007 - $43,500) of consulting fees included ingeneral and administrative expenses, and reimbursed

[stockarchangel]

Thanks.  OK, the 10,000,000 options aren't as ominous as they seem on the surface.  They're reserved to benefit ALL of the directors, and I'm assuming some were promised to the Tanzanian members of the BOD - you know, you have to grease the wheels a little to get the train rolling.  However, they could basically issue those options at ANY price UP to .25, even .01 if

[USMC]

On the positive side, when management is willing to take options in lieu of salary, even if because there is little cash in the company, it would seem to reflect their confidence in the company and in future increases in the stock price.    In a personal tight, they can always sell a bit as needed.    What CEO wants .25 cent....or .05 cent options in a BreX ?