Insider Information

We recently guested on a podcast and the idea of insider information came up again.

According to the definition by Investopedia the illegal act is not the company giving people insider information but rather the person who is trades based on that information. As we have no equivalent to the SEC it does seem that valuable information should be made public or not shared at all. This would require some sort of metric of what is valuable information.

Wikipedia states “… trading conducted by corporate officers, key employees, directors, or significant shareholders must be reported to the regulator or publicly disclosed, usually within a few business days of the trade.” In the case of the KmikeyM all trades are reported.

There is however information right now that some shareholders are aware of that we believe other shareholders are not aware of. Magazine writers have contacted some shareholders. We believe that magazine press could lead to additional shareholders, which may lead to more demand for shares, which could then possibly result in a higher share price. This is of course all speculation (we also thought the stock would drop after the last auction of shares!).

The question of what to disclose and when weighs heavily on our mind.

In the future, utilizing a faster form of feedback being developed by shareholder aaronpk, we will be able to respond to media requests with shareholder approval, allowing for more transparency. However, in the course of our day to day operations we will still be working with various people and shareholders concerning information that could be deemed valuable, and a policy for when and how that information is shared would assist in responding to the frequent query, “What about insider trading?”

Shareholder Discussion at

Former Enron CEO Jeffery Skilling received a 24-year prison sentence for insider trading and other crimes.

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