When you become a publicly traded company, senior management and the board are under a microscope and whether they like it or not every move regarding the company will be scrutinized.
if it was a top tier company which had been around for a while who cares, in a new industry and being a penny stock just waiting to possibly get traction this is very poor timing. Perception plays a big part at this stage of the game. Most people realize it's not a big deal, but how it is perceived is another story. Many companies will crash and burn and the margin for errors is very small. I believe the company has most of the tools to be successful but they cannot afford negative attention especially when the market is under such intense scrutiny due to the Canntrust fiasco and correction. I still believe this company has the potential to reach the 3.50 to 5 SP but it requires the positive market reaction, and so far nothing has made this stock gain traction, so this move to sell when the SP is at its lowest in a while is not smart business. It might be personal in nature, but in his position he knows how disruptive it might be. IMHO