In a recent transaction, Brian Wayne Haugli, Chief Executive Officer of SideChannel, Inc. (OTC:SDCH), has increased his stake in the company through the purchase of shares. The transaction, which took place on March 15, 2024, involved Haugli acquiring 52,500 shares of common stock at a price of $0.07 per share, amounting to a total investment of $3,675.
This purchase has brought Haugli's total ownership in SideChannel to 87,274,188 shares of common stock. The acquisition is a direct transaction, as indicated in the SEC filing, and reflects the CEO's growing investment in the data preparation and computer processing services company.
SideChannel, Inc., previously known as Cipherloc Corp and before that as National Scientific Corp/AZ, is incorporated in Delaware and has its headquarters in Worcester, Massachusetts. The company operates within the technology sector, specifically focusing on computer processing and data preparation services.
Investors often keep a close eye on insider transactions such as these, as they can provide valuable insights into the confidence that company executives have in the firm's future prospects. The purchase by Haugli is a notable transaction, and it may be of interest to current and potential shareholders.
The details of this transaction were made public through a Form 4 filing with the Securities and Exchange Commission, dated March 18, 2024.
InvestingPro Insights
The recent insider purchase by Brian Wayne Haugli, CEO of SideChannel, Inc. (OTC:SDCH), is a strong signal to the market, often interpreted as a positive indicator of the company's future performance. To further analyze SideChannel's market position and financial health, let's consider some key metrics and InvestingPro Tips.
InvestingPro data shows SideChannel with a market capitalization of $13.32 million USD. The company's gross profit for the last twelve months as of Q1 2024 stands at $3.31 million USD, which translates to an impressive gross profit margin of 48.98%. Despite a negative P/E ratio of -1.71, the company has experienced substantial revenue growth of 27.9% over the last twelve months, indicating potential for future profitability.
Two standout InvestingPro Tips for SideChannel include its high shareholder yield and its status as a prominent player in the Chemicals industry. These aspects are noteworthy for investors considering the company's long-term strategy and market standing. Moreover, analysts predict the company will be profitable this year, which could be a key driver for future share price appreciation.
For investors looking to delve deeper into SideChannel's financials and insider transactions, additional InvestingPro Tips can be accessed at https://www.investing.com/pro/SDCH. In total, there are 11 additional tips available, offering comprehensive insights that could inform investment decisions.
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