Management insiders own 72.41% of CTIX ! They fu
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[b]Management insiders own 72.41% of CTIX ![/b]
They fund the company, instead of issuing shares to fund their salaries. This is extremely unique.
This means several things, the most important to me are:
1. CTIX management interests are not only directly aligned with shareholders, they ARE the largest shareholders. They have their own money on the line here. Hugely so!
2. Most public companies issue shares to pay founder and management salaries, here we have senior management funding CTIX. They are financing Cellceutix, not using it as a piggy bank.
3. It is hugely in CTIX managements' own personal interest not to do anything to unnecessarily dilute shareholder value. This is their own money at stake!
CTIX management has THE major stake in enhancing shareholder value.
This is truly remarkable for a bio-tech with one drug in Phase I trial at the leading Harvard Cancer Center and one drug entering Phase 2/3 in the next few months.
Very unusual to be at this stage with such a tiny float and no impending major dilution.
The low float also means rallies have powerful potential. The appetite for shares can quickly overwhelm what is on offer to sell. As witness the huge green bar on 9/24/12 with only 1.4 million shares traded, and that was into a major resistance line. Above $1.18 there is only clear blue sky remaining. 0_0 !
This ownership chart is from the [url]http://www.sec.gov/Archives/edgar/data/1355250/000154823312000017/annual2012_10k.htm[/url] Cellceutix Form 10K filed with the SEC and current as of June 30, 2012.
Thank you BigJeff for pointing this out! This is truly remarkable.