"They IMHO don't care about the price because they were buying under ten cents a share "
As far as I know our current board NEVER bought any shares with their own money on the open market. I do remember Bernier, LG, and Korodi buying token amounts 150k, 52.5k and 10k shares when the stock was at a nickel back in 2002. Your talking about $7,500, $2,625, and $500 big ones. Till this day I have yet to see any of our board member smack down any real money of their own to purchase shares of a company they believe has a great future and is undervalued. Of course the reason they don’t is because the compensation committee grants them options every year which serve as a nice risk free alternative...stock is below strike price, no problem, don’t exercise don’t lose any money...stock is above strike price, exercise and make money...win-win situation for management and lose-lose situation for retail shareholders. Again I have no issues with option gratnts as this is industry practice but they really need to be tied to performance.
Teremoto's statement that we should be upset with our BOD is exactly what it is. Whatever excuses everyone else is using, IMO I keep stressing over and over again that their sloppy performance hands down is the main force dragging on the stock price. Their incompetence continues to keep investors from staying and potential investors from coming off the sidelines. I know there are some on this board that just don’t want to hear it...well I wish I didn’t have to be so negative but the truth is always painful. I think it was Mvarr that said it best...there is just nothing that can compensate for bad management....and this is the truth.
Corrections welcome on the insider purchases.
Cheers to a positive Markhman!
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