Sanuwave insider trading: On Wednesday, October 9, Joseph Chiarelli, Chief Executive Officer at SANUWAVE Health, Inc. (OTCBB:SNWV) purchased 41,667 shares of common stock, at a price of $0.60 each, for a total transaction worth $25,000 approximately. This is Mr. Chiarelli’s first acquisition in the company and represents an investment capital worth $30,000.
Mr. Chiarelli’s purchase was accompanied by Barry J. Jenkins’ acquisition of 13,500 shares of common stock, at a price of $0.74 for a total transaction worth $9,990. Mr. Jenkins is Chief Financial Officer at Sanuwave Health, and his position now stands at 215,742 shares of common stock, representing a capital investment worth $155,334. His previous acquisition dates from December 30, 2011, for a total of 48,500 shares of common stock, at a price of $0.18 each.
Kevin A. Richardson, Director at Sanuwave Health, was the third company member completing an acquisition on October 9. His transaction entailed 35,312 shares of common stock, at a price of $0.60 each, for a total acquisition worth $21,187 approximately. Now, Mr. Richardson holds a total of 1,583,316 shares of common stock, for a total capital investment of $1,139,987.
The stock has been unable to reach this year’s high price of $1.42 recorded on April 12, and is well behind the historical high of $5.72 registered on April 1, 2011. Since June, the stock price has oscillated between $0.59 and $0.80, and no clear uptrend has been identified. Also, dividend payments have been suspended and cash flow has been on the negative for the past four years, and debt continues to rise without any countering measures in place. There are no hedge funds we track holding positions in the company.
Disclosure: Jodor Jalit holds no position in any of the mentioned stocks.