Regarding Sheldon as an insider; this is a very loose term. He was made a director because between both his company at the time (Pinetree) and himself they held a significant portion of PTK. I have contacted Chris Chu on the matter of insider knowledge (when SI sold last year) and Chris informed me that Sheldon had no involvement with the day to day operations of the company and did not have a direct line to Dr. Taylor.

If I understand this correctly, Sheldons insider knowledge came from board meetings; which Sheldon had been shut out of recently (as Mazan mentioned; SI was not at the AGM and the subsequent BOD meeting afterwards).

Sheldons reputation in the industry is not a positive one. In fact, one investment broker on BNN's Market Call indicated that he would not invest in Poet with Sheldon being so much involved. The individual admitted he knew very little about the company itself but would advise staying away because of SI. For reasons such as this, I believe, Poet provided SI with a BOD position which would have insider trading restrictions but they kept him out of board room decisions as much as possible.

After being removed from his own company and possibly not feeling the love from the new Poet management, I believe, Sheldon decided to take his money elsewhere. Not because of insider knowledge (that some are claiming on this thread) but for other reasons only known to SI himself.

So, Sheldon cut a deal with KEK (a former holding of his with PNP) to do a private placement and began purchasing their stock. At the same time, he began selling PTK in a large way then resigned from the board before having to disclose his insider sale position. This allowed him to continue selling driving down the price of PTK. This had a dual effect; not only hurting the Poet SP but damaging the NAV of Pinetree thus causing PNP to sell Poet shares putting further pressure on the price. Now, when you add in warrant conversions we have the perfect storm which lead to our move from $1.50 to where we are now.

I think in Sheldons world he is quite pleased to have shown the kind of clout or control that he could have over these three companies (Note-KEK went from $0.25 to over $1.30 over the same period of time closing at $0.98 yesterday).

Obviously, the short term ramifications of this are detrimental to our SP but in the long run we are in much better hands. I am sure most of us here believe that Sheldon may dearly regret his decision to liquidate and I believe by months end we will start in a new upward direction. As mentioned, I think this new management knows they need to start delivering the goods and I believe they will. Cheers.