Why is exercise of options suss? It is not a large amount could well be management or insiders trying to help shore up the coffers - I feel you are jumping at shadows mate to be honest - if it was a bad investment why throw more money at it, surely you would be better selling?
I remember when I bought into NEA when it was 7c and sold around 12c cause a director sold a large pile (due to cashing out over a dispute). The fundamentals were very very strong and in the sweet spot...
Needless to say I did buy back in around 22c and sold around 30c - but it ran to over 70c in a few months...
