1- I never said a director bought 40,000 shares. Can you read? I also didn't say they bought it this week. I met the man a month ago and it could have been over the last year for all I know. I'm just telling you what he said.
2-As far as limits, if you go to Insidercow.com you will see transactions that are reported under 800 shares.
3-Both Jim and Keith personally told me they have not and are not selling shares. This was also a month ago. If they lie that would help your shareholder suit, no?
I don't care enough to research SEC filings but it is there, the two bros stating their intention to sell small amounts of shares into the market...maybe they are new shares and not existing ones...who cares. Bottom line is no one is buying within Torvec. Of course that is but one measure to consider for an investment. Get all the shares you want at this level. We are another two years away from finalizing something with either the AF or Army...that is just the pace they move. The stock could drop much more from here between now and then.
It is called Sarbanes Oxley jackass. All insiders must report buying or selling within two days. The Gleasmans selling is a ongoing plan that was laid out in a SEC filing a long time ago and was mentioned at annual meetings and in subsequent filings. While I don't know the exact rules I would bet that either the continuing nature or the small size of the transactions exempt them from filing for each sale.
I'm sorry you are so literal that I have to explain every detail to you.
If a director did purchase 40K shares he/she must disclose it. This purchase could have been today...there was huge volume and up $0.55. We will probably see it soon.