Loop Insights Inc (CVE:MTRX) CEO Rob Anson told shareholders on Tuesday that the artificial intelligence firm’s insider commitment is “very supportive and strong".
According to the Vancouver-based firm, no insider has sold a share of the company since it went public in June 2019. Around 40% of the stock is currently owned by insiders, most of which have escrow restrictions from four to 36 months.
"The last few months have been extremely positive for Loop, and with the recent completion of our $2.1 million financing, we are 100% committed and focused on execution, and delivering long term shareholder value,” Anson said in a statement.
“No insiders have sold any shares since the company has been listed, and there has been continued participation in both the open market as well the company's latest financing," he added.
Anson, along with Loop’s COO, CTO and several directors, invested in the firm’s latest financing and bought shares in the open market over the last few months, according to the company.
Loop said it is “strategically focused” on reducing capital expenditures through streamlined staffing and operational efficiencies.
“As we transitioned the staff to remote working-from-home, we are now seeing a high level of performance coming from the team,” it told investors.
“It has also allowed us to streamline the operations, creating significant optimization. And in a strong show of support, the senior management team has elected to take a 25% deferral of their salaries to help preserve and keep the company in a strong cash position,” the group added.
Loop Insights provides artificial intelligence solutions to retailers and brands.
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