Since almost ONE-MONTH has passed since the critical meeting, I would assume that those who are in the hospital employment would be buying in bulk if enrollment has started to surge, especially at this stock price. Word would be spreading rapidly among hospital personnel, their family and friends. It's hard to keep secrets in that environment. Therefore in my view, a low volume is bearish and indicates most of the buying is coming from shorts taking profits. JMO!!!
Remember that the meeting where the so-called enrollment-solution was discussed occurred on February 20, 2014. Therefore almost a month has already passed since then. Today is March 17, 2014. If nothing is heard regarding enrollment within 65-days from now .... ???
The window of opportunity is in a crisis mode. No more excuses will be tolerated.
The next three months are most critical
If SSH remains at $6, and the most shares they can sell is 50,000 per day, the most they can receive is $300,000 / business-day. To reach $25 million would require 83-business days. Holidays do not count as business-days and November to January 1 are full of holidays. Therefore if there is an average of 20-business-days per month, SSH would have to start selling to Aspire in September 1, 2014 to reach $25 Million. That's in about 5-months.
In other words, Peters is NOT as bullish as the LONGS would like to believe.
If he were he would have sold MUCH LESS THAN 20,000 shares and simply waited for a recovery.
ALL JUST MY OPINION
The BOTTOM LINE is that Peters did not want to gamble that he would have to pay MORE TAXES THAN THE STOCK IS WORTH.
I think most people would exit under those circumstances.
1- On Sept 8 2013 Peters was awarded 11,951 shares immediately and 11,951 shares to vest monthly over the following 12 months. There was no cost for the shares
2- Therefore, in 2013 he was awarded nearly 14,000 shares.
3- On Sept 8, 2013 SSH closed at near $11. Therefore Peters effectively received near 12,000 x $11 = $132,000 on Sept 8 for which he has to be taxed, and assume $11 each for SSH price for both remaining months in 2013 bringing the total received to $154,000 in 2013.
4- He did not want to pay taxes on the$154,000 SSH stock he received in 2013 that was now worth considerably less. Ditto for the remaining stock he so far received in 2014 which is now worth much less so he sold 20,000 shares for $124,000 to cover the tax payments for both 2013 and projected for 2014.
ONE_YEAR occurs on October 21, 2014 for the being vested. Until that date they are WORTHLESS. So what is your point?????
The lower the stock price, the more shares must be created for the $25 million. A stock price of $3 per share would require 8-plus-million shares to be created.
Especially when the insider is the Chief Technical Officer & Medical Office., And guess what, SSH is a Medical Stock and the sale was for about 32.5% of his stock holdings. And the sale occurred after the stock price was hammered down more than 25% from a few days earlier.
Furthermore, the sale was three days after a disclosure by the Chief Executive Officer (CEO) that the problem of low enrollment appears to be solved and the bulls jumped for joy at that news.
Yes, all these revelations were greeted by bullish shouts of joy.
The grant occurred on 9/8/2013.
So 6-months later 20,000 shares of stock is SOLD.
These were a STOCK grants not an OPTION
Wake up! A significant reason for selling 20,000 shares is that additional baby-sitter services will be needed to cover travel time as more sites come on-line. Since minimum wages are increasing those services cost more. The selling is really great news. You can take that thought to the bank.
How could anyone overleverage themselves with shares costing ZERO??? LOL!!
Therefore, without contrary information, his sale at $6.20 sends a message.
Once again, Peters is the CHIEF Technical Officer & MEDICAL Director.
So if the meeting on Feb 20 was so successful in identifying the cause of miniscule enrollment as being inotropes, Peters should have BOUGHT, NOT SOLD stock. After all, shouldn't the CHIEF Technical Officer & MEDICAL Director be the most knowledgeable about the solution???
According to the filing that I can see, it was a direct sale without any extenuating circumstances except to maximize profits on those assets. JMO.
SSH provided Peters 15,941 shares DIRECT and 27,892 shares INDIRECT.at ZERO cost.
There were also a number of 325 shares sold by Peters to date AFTER 9/8/2013 adding to more than 1,000 shares.