Saturday, November 01, 2014 3:41:47 PM
MTVX as of the last 10Q had the following EQUITY
Series E - $222
Series C - $197
Series B - 5 whopping dollars
Common Stock - $45,847
Add them and you get $46,000 and change, right?
A share buyback of 4B shares at 0.0001 costs $400,000 as you have pointed out. Shares repurchased and returned to treasury must be stated as Contra Equity which effectively reduces a firm's equity.
Hence, a share buyback of your example would WIPE OUT the already ridiculously, low equity of ~$46K and actually put equity in the negative territory. It really is a dumb way to spend cash MTVX doesn't have.
You may disagree but I am not wrong.
formerly Ms. BB
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