On 29 December 2017, Pocock exercised 3m options at $0.25 ($750,000.00) to take his position from 4.2m shares to 7.2m shares.
Since then, he was let go as CEO in early 2018, and from what we can gather, this is because the company thought they needed someone with further experience to take the tech to market.
Since then, he has sold net shares totaling 1.6m which at an average of 30c, come to $480,000.00.
IMO Pocock shouldn't be looked at the bad guy in this situation, as he was probably pushed out of the company soon after exercising his shares, and since departing has not flooded the market with shares, but has steadily sold some into the buying.
It woudl be a lot easier for Pocock to sell some shares if there was greater volume going through (something out of his control these days).
If I was in Pocock's position, I would probably have done something very similar to be honest, especially if I borrowed $750k to exercise the options.
And in some respects, he has held onto the majority of his shares (more than he bought exercising the options) which gives me some confidence he has confidence in the tech still, otherwise he would have sold more for sure.
Anyway, buying pressure is needed (with or without Pocock selling) for the price to go up. Lets hope MIN update us shortly, that seems like the likely scenario in March.
HZR Price at posting:
23.5¢ Sentiment: Buy Disclosure: Held
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