I was curious about the date & price the CEO sold his 6 million shares & checked this regulatory filing of the sale. He sold his 6M shares on Nov 12 at average share price of $.9380.
While going through the filling I found a discrepancy between the company news release & the filing report. According to PDN new release it states that " He continues to hold approximately 16 million shares."
But the filing states the closing balance as 13762237 shares only. There is a huge difference of 2237763 shares.
So based on the filing we can assume that he had total of 19762237 shares & he sold 6 million shares. So according to the filing data he sold 30.36 % of his position more than we had calculated earlier.
Company should pay attention on the details when they issue a new release. Either the news release is off by 2.2 million shares or the legal filing. Anyway this discrepancy should have been avoided.
On the buying side One director bought 300000 shares at $.82 & the second bought 100000 at $.8325. Both bought after the sale by CEO & at a lower prices.
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