Wow, that is some stunning news and on face value not a good look but it is a clear statement that the Director felt that ~5 cent SP was well overvalued and is an 8-9 bagger from the bottom.
To that end, I think the CR might be around half of that now so I would expect ~2.5 cents or ~40% of the top which is still a 4 bagger from the low just weeks ago. This is consistent with 88E CR recently that totally bagged out as well.
If the Director is able to participate in the CR and buy back in at a much lower SP and normal shareholders are not then that is not a good message to shareholders.
We have a Director that does not own a single share right now!
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