Ahh, no it was an off market sale. He sold the shares for 1.2...

Ahh, no it was an off market sale. He sold the shares for 1.2 cents, he has been systematically reducing his holding for some time.

This is not him transferring them into a different account, he is disposing of shares - at a massive discount to NTA. The managing director, the guy who used to own 53% of this company, like a year ago has sold down 100million shares at 1.2 cents. So if this guy has sooooo much confidence in his company.... why should anybody else. He sold more than 1/3 of his holding for 1 million dollars when there was 25million in the bank?????????????

Even if this does make a $8million profit for this year, the share price will not move - because that money will never leave China.

Interestingly even if this isn't a fraud, you have to ask serious questions about the decision making of the managing director if he is selling the shares this cheap given the raft of alternatives he has.

Good luck, but be prepared to say good buy to your money.