"Did he have a valid explanation for the insider selling? Saying and believing that the value is north of 25 doesn't wash with an insider bailing."

I have no idea why an insider dicides to sell at specific time. There may be many reasons, one of which is that particular insider is aware of something tricky that may soon strongly affect the SP negatively. But it could also be:

1- I need some quick cash to build a cottage on my new piece of land near the river;

2- I want to exercise some warrants or option I have in my portfolio;

3- I'm not crazy, and as anybody else, if I'm sure that the sun will set tonight, and rise tomorrow, I can't be that sure about anything regarding investment, even in my own company, so I take some profits at times when the stock brush against the high!

4- My cost base is 4 cents and I need capital gains now to write off some carried-over capital losses that are about to expire.

5- I have personal reasons to cash out, that I don't want to share publicly, sorry.

GLTA.

BaBe.