Phoenix Associates Land Syndicate (fka PBLSQ)

[Wonway]

Recently I started looking at the SEC requirements for a company buy back. Here are some of my conclusions:

First, the buyback must not be done to simply raise the PPS.

Second, it must be done on the open market and the price is to be no higher than the current market value.

Third it should not be done if the company has insider information not available to the individual investor.

Fourth after completed, information such as number of shares, price per share, etc. must be disclosed.

Hope I am wrong, somebody please explain why I am wrong!!!

link to SEC rules:

http://www.sec.gov/rules/final/33-8335.htm