No one likes to see insider selling, and no one likes uncertainty, but if there really was a problem the market probably would have reflected it by now. There has been no major drop in price nor any significant volume to speak of since these recent insider sales have come to light.
*** what was it Casey said? Buy below 8?
I agree with others that this selling is probably related to tax planning or something else innocuous. On balance, the good news of late overshadows these insider sales.
***There's nothing illegal about holding personal assets in so-called tax havens, as long as you declare them at tax time in your country of residence, that is, if you want to stay on the right side of the law. Corporations are a different matter. If you're incorporated offshore, the tax treatment is more favorable. Not an accountant, so that's all I can say with any certainty.
One thing occurs to me. With all the money flying about, you'd think they'd have set up some sort of charitable foundation within Ecuador. That piece of news hasn't arrived yet, but I bet we'll be hearing about it as soon as the details are finalized. For it to have any tax benefit in Canada, it would have to be registered there as well as in Ecuador, and what have we heard lately? That they are looking for an NGO to work with?
Given the sterling reputation assigned to these guys, I'd be very surprised that a foundation, or at least a generous donation to one, wasn't in the works.
ebear
