The insiders bought the flow-through shares which means in reality they are only paying 6 or 7 cents per share. Btrevor posted about how this works already. The european investor actually paid 10 cents per share. I guess insiders don't think MTO is worth 10 cents as Coffin demonstrated by his latest share sale.
What a mess, I am glad I listened to Btrevor and sold when I did. I will buy if it hits 5 cents.