GNCC Capital Inc (GNCP)

[Sleepy2016]

No it's very clear. Here's the full paragraph explaining that there will be no market buyback:

The Company has terminated its previous policy of remuneration through the use of “Free Trading” shares of Common Stock and with immediate effect. With the Company’s Directors having authorized a Stock Repurchase Program of up to $750,000 on January 13, 2014 and amended on September 26, 2014; the Company’s Management believes that it is illogical to expend any sums of monies on any future stock repurchases, in the market, from either Loan Term Convertible Loan Note Holders or from any other third parties that have directly or indirectly contracted with the Company and/or its subsidiary companies.

http://ih.advfn.com/p.php?pid=nmona&article=64435010


Here's the "clarification", which does not actually reinstate the market buyback but instead explains why they cancelled it in favor of private repurchases from insiders:

The Company is absolutely committed to its stated Stock Repurchase Program of up to $750,000.

The Company was highlighting that it was cancelling up to 29% of its outstanding shares of Common Stock and revising existing agreements to prevent additional shares of Common Stock from entering the “Free Float”.

The statement that, “The Company’s Management believes that it is illogical to expend any sums of monies on any future stock repurchases, in the market, from either Loan Term Convertible Loan Note Holders or from any other third parties that have directly or indirectly contracted with the Company and/or its subsidiary companies.”;

Meant That:

The Company was solely interested in repurchasing shares of its Common Stock in the market from Sellers other than Loan Term Convertible Loan Note Holders or from any other third parties that have directly or indirectly contracted with the Company and/or its subsidiary companies.

http://ih.advfn.com/p.php?pid=nmona&article=64449247

It's VERY important to remember that Stephen Lumb has pulled this identical share buyback scam probably 5 times in the past decade using the exact same people.