10% owner Barrett John Frederick sold 1,636,916 shares for $3,929,987.81 across 9 days; post-sale holdings 4,568,715 shares (-26.4%).
Barrett John Frederick, a 10% owner, executed 9 separate sales totaling 1,636,916 shares for $3,929,987.81 between April 15–27, 2026, at prices ranging from $2.04 to $2.69 with a blended average of $2.40. This transaction reduced his shareholding from 6,205,631 to 4,568,715 shares, a reduction of 26.4% of his pre-transaction position. The company is unprofitable (net income $-6.7M over the latest full fiscal year), posted negative net income in the most recent quarter, and has experienced annual revenue decline of 9.1%, creating a backdrop of deteriorating operational performance. While the current stock price of $2.30 sits 13.2% below the 52-week high of $2.65, it has appreciated 64.3% in the past 30 days and 51.3% over 90 days, suggesting recent momentum that may have coincided with or motivated the liquidation window. The scale of this single-insider reduction—disposing of over one quarter of his stake—warrants investor scrutiny given the company's financial headwinds.