Credit Intelligence actual facts, page-97

Was referring mainly to shares issued as vesting of performance rights by directors, but really any that have not been bought on market can't be considered to be sold at a loss IMO.

Sold at less than they were worth a few months ago, or at issue, yes. But not a loss.

Any shares that are sold (particularly by non-retail, which the broker data is suggesting) are sold for a cash amount that the seller considers of more value to them at that point in time than the shares themselves.

The fact that there are significant sales at these prices (mostly by non-retail) should be ringing alarm bells IMO.

Non-retail holders (insiders?) consider this business to be not worth $20m today?

yikes....