A lot of the directors of this company had PLENTY of money before this deal. All of them hold shares at 5c or lower. None of them would risk reputations to get out and make less than $200,000 on inside information. There is no conspiracy.
That being said I can't explain the the actions of whoever is selling out. Perhaps they are the same shares going round and round? Someone buys in a 36c and bails out at 30c. 30c buyer does the same thing at 24c and so on. I think this explanation closer to the truth than evil insiders dumping ahead of bad news.
I would be buying some shares if I had money.
ERH Price at posting:
19.6¢ Sentiment: LT Buy Disclosure: Held