Voip-pal.com Inc (OTCMKTS:VPLM) director Dennis Chang has recently sold a significant number of shares in the company. Over a series of transactions spanning from June 24 to June 28, Chang disposed of 500,000 shares of common stock, resulting in total sales amounting to $10,170.
The sales were executed at prices ranging from $0.0165 to $0.0172 per share. On June 24, the first transaction took place with 200,000 shares sold at $0.0172 each. The following day, another set of 100,000 shares was sold at a slightly lower price of $0.017 per share. The sales continued on June 26 and June 27, with 100,000 shares sold each day at a price of $0.0169 per share. The final transaction on June 28 saw 100,000 shares being sold at the lowest price in the series, $0.0165 per share.
After these transactions, Dennis Chang’s ownership in Voip-pal.com Inc has decreased, yet he still retains 2,520,152 shares of common stock directly. Notably, the director also holds a significant number of derivative securities in the form of warrants and options. According to the footnotes in the SEC filing, Chang owns a total of 40,000,000 warrants and 10,000,000 options as of the reporting date.
Investors often keep a close eye on insider transactions as they can provide insights into the executives' perspective on the company's current valuation and future prospects. The recent sales by Director Chang represent a notable change in his investment position, although the reasons behind these transactions have not been disclosed.
Voip-pal.com Inc is a company that operates in the telecommunications sector, specifically in the manufacturing of telephone and telegraph apparatus. It is headquartered in Waco, Texas, and incorporated in Nevada.
InvestingPro Insights
As investors digest the news of Director Dennis Chang's recent share sales in Voip-pal.com Inc (OTCMKTS:VPLM), it's crucial to look at the company's financial health and market performance for a broader context. According to InvestingPro data, Voip-pal.com Inc currently holds a market capitalization of $58.28 million. Despite its significant market presence, the company's financials reflect some challenges, with an adjusted price-to-earnings (P/E) ratio for the last twelve months as of Q2 2024 standing at -2.31, indicating that the company is not currently profitable.
Two InvestingPro Tips shed further light on the company's situation. Voip-pal.com Inc holds more cash than debt on its balance sheet, which is a positive sign in terms of financial stability. However, it suffers from weak gross profit margins, as evidenced by a gross profit of -0.01 million USD for the same period. Additionally, the company's liquid assets exceed its short-term obligations, suggesting it can cover its immediate liabilities.
It's also notable that the company's stock price has experienced a significant decline over the past year, with a 1-year price total return as of mid-2024 of -66.53%. This could be a factor influencing insider transactions like those of Director Chang. Moreover, Voip-pal.com Inc does not pay a dividend to shareholders, which may affect its attractiveness to income-focused investors.
For those looking to delve deeper into Voip-pal.com Inc's financials and market performance, InvestingPro offers a more comprehensive set of tips, with six additional insights available at https://www.investing.com/pro/VPLM. To gain access to these valuable insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.