Both Canaccord and Anonymous hammered the share price to drop it and keep it below 80 cents late in the day. First Canaccord sold 98,000 at the 80 cent bid and Anonymous took out the last of the 80 cent shares which seemed to trigger some 80-cent stop losses. That was followed by a 70k dump by Canaccord at 78 cents while Anonymous put 115k on the ask at 79 cents. After these shares were bought up, Anonymous sold 162k at the bid dropping the price to 77 cents. Wednesday, April 28, 2010
Today's Trading Summary
Both Canaccord and Anonymous hammered the share price to drop it and keep it below 80 cents late in the day. First Canaccord sold 98,000 at the 80 cent bid and Anonymous took out the last of the 80 cent shares which seemed to trigger some 80-cent stop losses. That was followed by a 70k dump by Canaccord at 78 cents while Anonymous put 115k on the ask at 79 cents. After these shares were bought up, Anonymous sold 162k at the bid dropping the price to 77 cents. 
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``A group of senior management employees and former officers of the Company recently exercised approximately 600,000 options that were held since being granted five years ago on April 18, 2005 at $0.40 per unit. The options were exercised and either sold in a private transaction to minimize impact in the market, or continue to be held. Additional information on insider transactions can we viewed at www.sedi.ca.``
Of the 600,000 options, 200,000 were Peggy`s and 200,000 were Adrian McNutt`s. Peggy`s exercise price was $.40 and she sold privately for $.63. I`m ok with that. It doesn`t impact the 22.8M shares that were already held by her and Ross.
SEDI shows that Mr. McNutt exercised his 200,000 shares but it doesn`t show a sale transaction going through.
I guess we can assume that the final 200,000 options were held by the former officer.
I am so frustrated with this stock, everytime I jump in it falls back immediately last time it was .43 then it fell to .30 now I'm @ .83 and it's .70!
Sneaky, I feel your frustration. Happened to me many times. Word of advice, don't get into a stock that has run up 30% in a week. Do your research before you get in and have an exit point in mind. Have a core position and a trading position (60-40). Don't be afraid to take profit. As per CMM, I think it is just consolidating as it did after the PP. Add to your position on these consolidation and sell on strength.
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