Calm down all, let's get this straight,
First, he never said he was "exploring options" for a buyback" in the sense of "mass buy back". He was referring only to looking into buying back directly from insiders.
A massive difference in dollars spent and stock repurchased.
""I will discuss the legal implications of a private transaction with an insider/officer to determine if/when it might be feasible and what disclosure requirements would come with it."
Second he said " I would like to have fewer shares outstanding and believe it could be a good use of our cash." A read this as only an honest opinion. As an actual buying stockholder he would like to see the stock price appreciate in value as any other buying stock holder would.
As a CEO the less stock OS the higher and faster the stock appreciations. The higher the stock appreciation the less cash he would need for acquisitions.
Sandy - when it comes to JN, I share your Carny opinion of him,(for those JN lovers Carnys make money) but with Chuck I get a whole different vibe. Until proven other wise I believe Chuck will be a straight shooter, who will be hands on (very rare does a CEO answer personally e-mails written to IR department),run a tighter ship and be realistic in his guidance going forward.
PMz - the amount of money needed to buy back insider stock, especially in this particular case of Abe, is relatively small, 30 to 40 thousand.
Before we get excited on how much money Sunworks has or doesn't have let's get a few profitable quarters behind us shall we.
It's been a good week, Sunworks first major project out side of Ca. The first real sign of finally meaningful organic expansion is actually happening.
As a long it was the best real news I heard since the last acquisition.
