10% owner Vivasor sold 20,000,000 shares for $11.3M across 4 days as stock fell to $0.51, 87.3% below 52-week high
Vivasor, a 10% holder, executed 4 separate sales totaling 20,000,000 shares between May 4-7, 2026, reducing its stake from 75,942,666 shares to 55,942,666 shares (a 26.3% reduction). The sales occurred at prices ranging from $0.50 to $0.58 (blended average $0.56), while the stock now trades at $0.51, having collapsed 87.3% from its 52-week high of $4.03 and declined 31.4% over the past 30 days. The company posted a $53.1M net loss in its latest quarter despite $3.4M in quarterly revenue, and remains unprofitable on a full-year basis. This large staged reduction in a significant insider stake amid severe price deterioration and persistent losses is material for investors monitoring the conviction and capital allocation signals of major shareholders.