In a recent series of transactions, Whitney O. Cluff, a director at Inception Mining Inc . (OTC:IMII), sold a significant number of shares, accumulating over $1,100 in proceeds. The sales took place between May 17 and May 21, with prices ranging from $0.0009 to $0.0014 per share.
The transactions began on May 17, with Cluff selling 10,000 shares at a price of $0.0012 each. Subsequent sales on May 20 included 69,000 shares at $0.0011, 40,000 shares at $0.0012, 40,729 shares at $0.0011, 20,000 shares at $0.0014, another 20,000 shares at $0.0013, 220,000 shares at $0.0011, and 250,000 shares at $0.0009. The sales continued on May 21 with 200,000 shares sold at $0.0010 and 300,000 shares at $0.0009.
Following these transactions, Cluff's holdings in Inception Mining decreased significantly, though the exact post-transaction ownership was not disclosed for each sale. However, the filings indicate that after one of the sales on May 20, Cluff still owned 66,733,002 shares indirectly through a business entity controlled by the shareholder and through a joint account with a spouse.
Inception Mining Inc., which operates within the gold and silver ores industry, has not made any official statements regarding these transactions. The sales were reported in accordance with federal securities regulations, which require insiders to disclose stock trades in a timely manner.
InvestingPro Insights
Whitney O. Cluff's recent sale of shares in Inception Mining Inc. (OTC:IMII) has caught the attention of market watchers, especially considering the company's current financial metrics. With a Market Cap of just $1.58 million USD and a P/E Ratio (Adjusted) for the last twelve months as of Q4 2023 standing at 0.69, the company is notably small in size and valuation compared to its peers. Additionally, the 1 Week Price Total Return as of day 143 in 2024 reflects a significant drop of -50.82%, highlighting the stock's high price volatility, which is one of the InvestingPro Tips associated with IMII.
Investors should note that Inception Mining's stock has not only been subject to short-term price declines but also longer-term performance issues. The stock has experienced a -53.85% 3 Month Price Total Return and a -48.28% Year-To-Date Price Total Return, aligning with another InvestingPro Tip that the price has performed poorly over the last decade. These metrics may be of particular interest to those considering the implications of insider transactions on their investment decisions.
For those looking to delve deeper into the financial health and future prospects of Inception Mining Inc., InvestingPro offers additional insights. There are a total of 9 InvestingPro Tips available, which include observations such as the company's weak gross profit margins and the fact that short term obligations exceed liquid assets. These tips could provide valuable context for understanding the director's recent sale of shares. To explore these insights further and to aid in a more informed investment strategy, readers can take advantage of a special offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.