Cloud3 shareholder Nikzad disposes of 953,590 SV shares
Founder dumps a third of his stake at distressed levels as Cloud3 completes a shell-like asset sale, sealing the company’s fall from grace.
The most recent release (2026‑05‑08) reports that David Nikzad – founder, Executive Chairman, and a key insider – has disposed of 953,590 subordinate voting shares at a price of 3.365 cents per share. His ownership fell from approximately 10.37% to just 3.31% of outstanding equity. The transaction was a private disposition for investment purposes.
Earlier news: On 2026‑05‑04, Cloud3 closed the sale of “all or substantially all of the Company’s undertaking,” a related‑party transaction that effectively exited its legacy digital asset business. On 2026‑04‑22 the company received shareholder approval to dispose of those legacy assets to extinguish only ~$246k in debt and adopted a new investment policy allowing investments in any industry. In October 2025 the company had still been speaking of a planned 2026 uplist to Nasdaq/NYSE and was “nearing completion” of an audit.
The sequence of events is deeply negative. The company has sold virtually its entire operating business, settling a small debt and leaving behind a shell with a vague investment policy. The founder’s immediate, large‑scale share sale at a price matching multi‑year lows (3‑4 cents) signals a complete loss of conviction. This is not a routine portfolio adjustment; it is a material insider dump that confirms the business has no near‑term value driver. The fact that Nikzad liquidated over 950,000 shares right after the asset disposition closes and the company is hollowed out makes the news materially negative. The market was already pricing the stock near zero, and the insider sale erases any remaining hope of a turnaround.
Cloud3 Ventures originally positioned itself at the “intersection of energy, consciousness, and technology” and held a portfolio of digital assets. The flagship project was its digital asset treasury and the planned 2026 uplist to Nasdaq/NYSE. As of May 2026, it has disposed of all or substantially all of its undertaking, extinguishing a small debt in the process. It now has no operating business; it is purely an investment issuer with a broad mandate to invest in any sector. Effectively, it is a shell with no current flagship project.