Alright so Sheldon sold a fraction of his overall investment in PTK. Why now? This should be asked at the AGM. Why from RRSP? This should also be asked at the AGM. Is he still a large shareholder in the company? YES. Is he right to have thrown us retail investors under the bus like this? NO. So where do we go from here?
In my opinion we:
i) Have enough cash on hand to last us 27 months
ii) Have completed MS8
iii) Have just hired an all-star to our roster (Ajit)
iv) Have been in discussions with various companies from TX and CA for a few months already to discuss PDA
v) Are looking to pass a RS motion so as to have this in our back pocket to graduate to the NASDAQ should we require it
With the exception of my last point these are all tremendous positives. The timing of the RS announcement like SI's decision to sell shares I believe was poor.
Another question which should be asked at the AGM is why announce an RS when we were almost there (i.e. $2.25) at the time of announcement?
Serious questions should be asked at the annual meeting with good answers given.
That said, this stock has already been beaten to death over the above negatives with no value given to any of the positives. Oversold I believe so but the market will be the market.
Sandman
