Let's put this into context - Lucerne, under direction from Nania, invested a large amount of capital in a highly speculative share that was not making anywhere near the revenue it is making today. The decision proved to be a good one - and years down the line the company released an excellent Annual Report (2020). Sitting on a gain of 300%, Lucerne (not under direction from Nania) decided to sell their holdings - and it is unlikely, that they would have been able to do so prior to this event due to the low liquidity in CXZ. Would YOU not do the same? As I've identified in a previous post, if you look at any information published by Lucerne they are incredibly bearish towards the current market, and I would see this move as a precautionary measure to hold cash in what they view as an overall bearish market. After all, they have obligations to THEIR shareholders. In fact, one could argue that they acted in the interests of CXZ shareholders by waiting until the company was "on its feet" before selling and not dumping during times of fear.
To claim that insider trading occurred - at the current moment - lacks any basis. At the time of the annual report, which was only published a month ago, there was no negative information about CXZ that was NOT published in the report. So how could there be insider trading? You would be implying here that Nania and CXZ know something that they DID NOT publish in the report - I highly doubt that. Furthermore, recent communication with Nania made it clear he views the relationship with GM as highly positive and one that continues to grow.
The urgent calls for release of information ONE MONTH after the annual report was released is a little much imo. I agree that communication could be better, and I expect to see a shareholder presentation over the coming months. News of a CEO appointment will also be welcome.
Until then, people need to get a grip, speculate less, and look at the actual information at hand.
CXZ Price at posting:
1.8¢ Sentiment: Buy Disclosure: Held
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