Also, poor acquisition decisions in paying script and imo way overpaying for performance.
Those script payments awarded and immediately dumped on the market is what really set this selling off.
It is also quite clear Jimmie did give the wife like 100m shares and it is believed she had taken that off the table too.
Absolutely nothing wrong with Jimmie and the wife selling for profit. They are also investors and have been in this company from day 1 so it’s fine by my books but it certainly killed sentiment and created negative momentum downwards.
The huge script payment for achieving that performance target is way too high. They should have at the very least escrowed that script payment for 12-24 months as most companies do. So imo that was managed very poorly.
Fundamentally this is easily worth 3c based on what is current on issue. It is a pity they have diluted this so much otherwise this will run a lot wilder on the reversal. Swing traders are taking notice now for sure.
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