Yes, you're right. The main purpose of a share buy-back is to improve the SS and, coupled with good revs/profits, usually results in an uptrend in the PPS.
There is no buy-back during a R/S, because the RS in itself "improves" the SS. If approved, after this R/S, the OS will be 4,386,950 shares ... no need for a buy-back.
Actually, that SS would be pretty good. If MMEG turns this ship around, and adds, say an additional 30-40mil shares in dilutive shares for growth purposes and starts generating $$$ (all coupled with securing long-term financing to restructure debt and end dilution from old note holders, there's still a lot of shares ready to dilute still in their hands) then perhaps we navigated through our "darkest hour."
But, for now, shareholders are taking it in their shorts.
In their last 8-k:
"On November 8, 2017, our Board of Directors and stockholders holding 6,798,033,108 shares of Common Stock, representing 52% of our outstanding voting stock..."
So they hold a majority for voting purposes -- so in a sense we are at their mercy. And at looking at past practices and decision making, I am not optimistic anymore ... but, still hopeful (I have no choice).
GLTUA!
