Bought Some More Crexendo (EXE) at $1.20

Crexendo (EXE) spiked to a new 52-week low of $1.10 this morning (02014.12.24). The company, which is being delisted from the NYSE, issued a press release that stated the following.

Chairman of the Board of Directors and Chief Executive Officer, Steven G. Mihaylo (through a trust) agreed to purchase 1,449,275 shares of Common Stock at a price per share of $1.38 for a total of $2,000,000.00. The agreement which was signed today is expected to be financed by December 27, 2014. In addition, Mr. Mihaylo has been granted 500,000 warrants to purchase common stock of the Company; the warrants have a five year term and a strike price of $1.38 per share. Mr. Mihaylo has agreed that for a period of two years from the date of the Sale Agreement, the Company may require him to exercise the warrants if the Company determines the exercise of the warrants is necessary for the cash needs of the Company.

I understand the issuance of stock is dilutive, but I like it when a CEO has confidence in the future of his company.