FWIW here is their reply when I asked them this question along with the comment below in September last year.
As a shareholder it would make me feel 100 times better to see insiders have some skin in the game and show cofidence in the equity.
All members of our senior management team and most of our directors already hold common stock of the Company, so we are feeling the same decline in the value of the stock as you and all shareholders are.
Our entire management team is working full time for this company, and our livelihood depends upon the success of this organization, so I believe we have plenty of “skin in the game”. I apologize if that doesn’t provide enough confidence for you.
Regards, Craig Crowell
Now what I think is a waste of money is that they go on these road shows and try to sell the company to investors and I have to imagine that the question is from these investors is "well if you guys won't buy stock at these prices why should I?"
Management has a lot at stake. But what about the Directors? Why don't they (ex-Ron Guill) have an interest in the stock. They don't like the assets? They don't like the management? They don't like the price? Do they just show up at meetings for the donuts?
Do you believe these non-shareholding Directors really represent us?