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An update to my post yesterday, specifically, this section:

All the while, insiders have been cashing out:

* CEO Mark Vadon reduced his stake from 1.406MM shares to 1.011MM shares from 1-Jan-07 to 14-May-07 (a 28.1% reduction).

* CFO Diane Irvine reduced her stake from 115.8K shares to 40.4K shares from 1-Jan-07 to 31-May-07 (a 65.1% reduction). Moreover, if you back up two months to 8-Nov-06, her stake has sold off from 186.9K shares, down to 40.4K (a 78.3% drop).

* Sr VP Gaston Dwight dropped his stake from 15.5K to 1.3K in 2007-to-date.

* Sr VP Susan Bell has liquidated her entire position in 2007 (12K shares) which she'd largely maintained for the past few years.

Since the Q2 earnings release lock-up period has passed, all of the aforementioned parties have engaged in NILE share transactions.

* CEO Mark Vadon further reduced his stake by 323K shares to 686K shares. To-date in 2007, he has liquidated 51% of his holdings.

* CFO Diane Irvine exercised and sold options ($0.25 strike, sold for $92+). Her holdings remain at the numbers presented in the prior post.

* Sr VP Gaston Dwight sold his remaining shares, and now holds position in the company. He also exercised and sold some options.

* Sr VP Susan Bell exercised and sold options ($0.25 strike, sold for $93+). She continues to own zero shares.


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