1. If you go look at the SEC Form 4 filings (all of them) you'll see that Nick's purchases are AO Partners. Cabillot is for Farnam Street Partners. The total number of shares held by Farnam Street is somewhat less than half of AO Partners. AO is at about 646,000 shares, while Farnam Street has about 280,000 shares. I still haven't found how to get copies of the 10b5-1 trading plans, but I haven't given up yet either.
2. It's really not a "price drop", it's a calculated part of their grand plan, whatever that might be. My guess says that they're trying to get people to hold their shares, but if people really want to unload, they'll take them at some set price. Make that price low enough, and folks will think twice before throwing in the towel and giving them up. If they do still want to give them up, they'll take them more cheaply. If nobody is trading, I see the bid/ask at $1.90 x $1.99. If people want to buy or sell, I see them throwing a bid up at $1.91 or an ask at $1.95 - $1.98. But none of the asks are getting hit. The bids at $1.91 are eventually getting filled - at some point people just want out and will sell at the market.
"Despite the drop in price I feel very confident thanks to the insider purchases."
Agreed - but it goes well beyond that. It's insiders/directors who are not only willing to put up their own money, but they are willing to work/participate to get the right outcome.
Within the next 6 months we're going to begin seeing new contract announcements and then things are going to get real interesting as it will become more apparent that the plan is working and things have turned the corner.