Riddle me this Delta 9 will soon be in receipt of a cheque of around $5.5 million dollars from the Manitoba government.
The company's current market cap at a share price of $0.055 is $8.4 million.
The CEO is selling like there is no tomorrow at $0.05 or a $7.6 million market cap.
He sold another 600,000 shares at $0.05 couple weeks ago, for a pathetic $30,000.
He knows $5.5 Million in cash is coming into the company coffers so its more like he's selling at a $2.1 million EV valuation since $5.5 million cash is onhand and distributable. Its a really grimm view of his own company's true value.
Hmmmmmm, speaking of distributable
If he's presumeably so "desperate for cash" then why doesn't he declare the windfall as a special dividend. He still owns about 10% of all shares so he'd get a dividend cheque of $550,000. Beats the hell out of giving away your shares for pennies on the dollar. JMHO