No. They are not the kind of insider that can be told what to do by management. They are not privy to anything going on behind the scenes. They are insiders in the sense that they hold 10%+.

This is why I think Pinetree selling should be seen as benign by the market.

However, it would be quite a coincidence that Sheldon excercised his warrants at the same time that Pinetree decided to sell some shares. But stranger things have happened. Also, as has been noted by some on the board, it would be quite stupid for Sheldon to damage the SP at this time given his massive holdings.

We can only hope that whoever sold (if it isn't a mistake, or Pinetree) had defensible reasons and did so knowing that no permanent damage would be done given soon-to-be-announced news. Othewise I'd take it as a slap in the face if I was DeBonis or Lazovsky.

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BTW I checked SEDI before posting and Pinetree has not lost insider status, even without Sheldon, so they would have to report any selling.