I was researching and see that at 1/18/2013, David Drutz, CEO has not only purchased 75,000 shares on the open market, but he has 217K options to buy shares at $1. I presume he is buying this month before any big news is announced. Would his exercising this option influence the trading action since there is such a small float? If he purchased shares at 1.06 in September, then he is certainly buying now IMHO.
It says his options vest equally over 5 installments the first starting 1/1813, then May 2013, May 2014, etc.. That's only 43K shares or so each installment. I don't see how it could influence the trading much. Read the latest S3. Alpha would be a more likely culprit. imo
Thanks for highlighting that for me....I don't think Alpha would be depressing the stock price as they are unable to convert until June at the earliest:
On December 28, 2012, we entered into a Securities Purchase Agreement (the “Purchase Agreement”) with Alpha Capital Anstalt (the “Investor”) providing for our issuance and sale (the “Transaction”) of $2,800,000 of shares of Series B-3 and Series B-4 convertible preferred stock (convertible into a combined total of 3,684,210 shares of common stock). In connection with the purchase of shares of Series B-3 and B-4 convertible preferred stock in the Transaction, the Investor received warrants to purchase a number of shares of common stock equal to the number of shares of common stock into which such investor’s shares of Series B-3 and B-4 convertible preferred stock are convertible, at an exercise price equal to $1.05 (the “Warrants”). Each warrant is exercisable at any time on or after the six-month anniversary of date of issuance (the “Initial Exercise Date”). One-half of the warrants are exercisable for two years from the Initial Exercise Date, but not thereafter, and the other half are exercisable for five years from the Initial Exercise Date, but not thereafter.