In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Usell.com Inc. (OTCMKTS:USEL) reported that Schreyer Leslie J has picked up 825,000 of common stock as of 2017-06-02.
The acquisition brings the aggregate amount owned by Schreyer Leslie J to a total of 825,000 representing less than 4.0% stake in the company.
For those not familiar with the company, uSell.com, Inc. (uSell) is a technology-based company. The Company focuses on extracting the value from used mobile devices. It acquires products from both individual consumers, on its Website, uSell.com, and from carriers, retailers and manufacturers through its subsidiary, We Sell Cellular, LLC. These devices are then distributed across the world, which leverages an online marketplace where professional buyers of used smartphones compete to buy inventory in an on-demand fashion. The Company, through uSell.com, allows individual consumers to find cash offers for their items based on the make, model, and condition of each item. Upon accepting an offer, consumers can ship their devices for free using either a prepaid shipping kit or shipping label, and then track the progress of their orders online from initiation to final payment of their devices.
A glance at Usell.com Inc. (OTCMKTS:USEL)’s key stats reveals a current market capitalization of 14.09 Million based on 20.14 Million shares outstanding and a price at last close of $0.800 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-06-02, Piton picked up 1,358,837 at a purchase price of $1.00. This brings their total holding to 2,358,837 as of the date of the filing.
On the sell side, the most recent transaction saw Tepfer unload 500,000 shares at a sale price of $1.00. This brings their total holding to 4,182,418.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Usell.com Inc. (OTCMKTS:USEL) as things move forward to see if its progress aligns with these transactions.
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