Yes that is correct, but they are already an "insider" as defined by the Exchange, by virtue of owning more than 10% of shares. Both Pinetree and Sheldon have been required to file insider trading reports for many years now for PTK and he has been doing that. Here's an example:
http://www.canadianinsider.com/node/7?menu_tickersearch=ptk
Filing Date |
Transaction Date |
Insider Name |
Ownership Type |
Securities |
Nature of transaction |
# or value acquired or disposed of |
Price |
Jan 7/14 |
Jan 6/14 |
Inwentash, Sheldon |
Control or Direction |
Common Shares |
10 - Acquisition in the public market |
202,500 |
$0.560 |