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Forward Industries Inc. Message Board

  • stockwizard05 stockwizard05 May 11, 2010 9:29 AM Flag

    Very Scary

    I just saw something very scary on the SEC filings. I'm not sure how to read into it. The CFO Jim McKenna sold 7,000 shares. I don't want to jump to conclusions, but when a major insider sells I think they have to give a reason for selling. If it's to pay taxes or they owe money to their bookie I can understand (kidding about the bookie). What does it say about management and their ability to lead when the chief guy in charge of accounting has no faith in the stock and company. it's frightening.
    I have had doubts about this management team for a long time. Now if the CEO starts selling that would be scarier
    Please let me know anybody's thoughts.

    The company that keeps buying this I hope they have plans to at least reorganize the management team to whip them into shape. I think I need to start gong to annual meetings

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • He probably needed a carton of cigarettes.

    • The 7000 shares work out at about
      14 days' pay. He must have cleared op
      an accounting matter.
      The CEO just assured investors that
      FORD will have an excellent year
      (2010). By December the stock, I think, will be nearer to $ 8.- than to $ 5.-
      But my favorite stock is not
      Ford but CGEN. This unique biotech
      company developed a totally new approach for big pharmas to
      quichen the research for new drugs.
      They work with Markers, their own
      invention, which can shave up to 50%
      developing novel drugs. Pfizer already made an mpressive deal.
      More pharmas are sure to follow.
      No analysts cover yet...
      I also love GENZ..This old and very rich drugcompany seling rare drugs is going to redeem itsef this year.
      Look for $ 60 later this year.

      • 1 Reply to biomaag
      • cheribonilla@sbcglobal.net cheribonilla May 13, 2010 1:17 PM Flag

        The other thing to consider is that as a registered BO contracts can be legally guided to this company to improve revenue and net profit without neccessarily becoming an inside trade. This could do well for long term valuation especially if he has good connections. I think this news outweighs the CFO as a buy signal as he plunked down more cash and might actually know something that the CFO does not.

 
FORD
1.31-0.01(-0.76%)Sep 17 3:59 PMEDT

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