Ann: Phosphagenics Announces Results of TPM/Oxycodone Ph2a Trial, page-89

Stormer

I don't think we will see director buying at POH until Orbis have stopped selling...the price tomorrow could be cheaper and it could be cheaper again the next day depending on how Orbis manage their exit strategy.

Even if one is optimistic on POH technology, to me it would make more sense to wait for the Orbis situation to resolve before buying POH. (This is not meant to be investment advise, as everyone's risk tolerance is different). Contrary to that, I'm probably an idiot because I've topped at these low prices...but I did so knowing that there is still significant risk associated.

I wouldn't hang my hat too much on 'director' buying as investment strategy...plenty of instances where the share price goes down after a director has seemly validated the prospects of the business by buying shares...

PBT
G. Kempler, (director), purchased $50K worth @ 25.3c in June 2015
G. Kempler, (director), purchased $25K worth @ 16c in May 2012

So even with a key director buying a decent whack, PBT's share price has declined by ~ 70% in just over 6 months.