It's 10% of each of Greenberg's, Hubbard's and Schaffer's...

It's 10% of each of Greenberg's, Hubbard's and Schaffer's holdings sold to accommodate a new incoming "long term" US based investor. The other directors Catalano and Nagle did not sell down.

It's never a good sign when directors sell a single share because the logic is always why didn't they wait until the price was higher?

Apparently, the price was negotiated some time prior to reporting the sale and was when the sp around $1. It is at least a feather in cap to have attracted a large US investor who would have eye on NASDAQ listing not owning an ASX listed stock. But the new US based investor with over 4% is not disclosed.

If this stock is a multibagger from here as it promises to be if it achieves its business targets this year and next, then they directors won't miss their 10%. The selling for cash needs is out of the way prior to NASDAQ listing.

But definitely a small short term negative to sentiment, until the news flow proves the business model is working, and then all will be forgotten.