In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Inspro Technologies Corp (OTCMKTS:ITCC) reported that Caldwell Donald R has picked up 105,882,674 of common stock as of 2017-04-21.
The acquisition brings the aggregate amount owned by Caldwell Donald R to a total of 105,882,674 representing less than 78.5% stake in the company.
For those not familiar with the company, InsPro Technologies Corporation is a technology company. The Company provides, InsPro Enterprise, which is a software application used by insurance administrators in the insurance industry. InsPro Enterprise is a Web-based insurance administration software application. InsPro Enterprise clients include insurance carriers and third-party administrators. The Company markets InsPro Enterprise as a licensed software application. The Company offers InsPro Enterprise on both a licensed and an application service provider (ASP) basis. InsPro Enterprise is an insurance administration and marketing system that supports group and individual business lines, and processes agent, direct market, worksite and Website generated business. The Company conducts its operations through its subsidiary, InsPro Technologies, LLC (InsPro Technologies). InsPro Enterprise has a design, which enables the customer to purchase only the functionality needed.
A glance at Inspro Technologies Corp (OTCMKTS:ITCC)’s key stats reveals a current market capitalization of 2.89 Million based on 41.54 Million shares outstanding and a price at last close of $0.0646 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2015-12-18 Caldwell picked up 397,086 at a purchase price of $0.05. This brings their total holding to 511,096 as of the date of the filing.
On the sell side, the most recent transaction saw Oakes unload 397,086 shares at a sale price of $0.05. This brings their total holding to 10,560,146.
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 Inspro Technologies Corp (OTCMKTS:ITCC) as things move forward to see if its progress aligns with these transactions.
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