Ann: December Quarterly Report & Appendix 4C, page-13

I came across an article today about AU8 insider holding 46% of all the shares. I also found out that an insider spent 1.5 million dollars to buy more shares in Mar 2018 at 45c.

https://**.st/stocks/au/retail/asx-au8/aumake-international-shares/news/have-insiders-been-buying-aumake-international-limited-asxau8-shares-this-year/

And another bought a small amount at 23c later in 2018. No insider sold any share. This looks like they really believe in the business. However, they also own a lot of options that could be exercise at 20c. The volume for this stock is very low and that means not many people want to sell at the current price between 20-21c. Perhaps there is a doubt right now if they will break even this year. I feel there is not much downside now. If they break even by 2H FY2019 or even 1H FY2020, there is a good chance we can see this stock around 30c plus. It looks like one must hold for another year to see a real upside. I am watching for disclosure of insider buying or exercising their options. So far it's good that they have not sold any.