10% owner Michael Bigger sold 1,054,091 shares (all holdings) for $2.2M; stock now $0.54, down 72.7% from 52-week high.
Michael Bigger, a 10% owner, executed 6 separate sales on 2024-09-05 totaling 1,054,091 shares for $2,201,328.66 at a blended average price of $2.09 per share. The current stock price of $0.54 represents a 72.7% decline from the 52-week high and a significant deterioration since the sale occurred. Eastside Distilling is currently unprofitable (net income $-1,488,000.00 in latest quarter; full-year net income negative) with revenue declining 24.4% year-over-year and a market capitalization of only $952,284.06, indicating a distressed financial situation. The timing of this liquidation—executed at prices materially above the current market level—suggests the insider acted to exit holdings before further deterioration in the company's valuation, though the FLAG indicates Table II derivative holdings may represent an additional position not yet reflected in our database.