Ross selling a total of 2.7 million shares, with who knows else joining in a dump, family, friends and associates etc. Both these occasions, at the end of May and start of June, when the SP was hovering at .027. This price had previously been a wall that had held for a few months. Now we find ourselves down near 20%.
How do we interpret management cashing in while the rest of us carry the loss? Ross knows something we don’t, or he is desperate for $65k cash to fund his lifestyle. Either way is not assuring.
I know that directors only have limited windows around reporting in which to sell into the market, so I hope that this is just a cash flow issue and not a sign of things to come.
BNL Price at posting:
2.2¢ Sentiment: None Disclosure: Held
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