I just don't see a buyback happening in the near future. From that link:
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How Companies Perform a Buyback
Buybacks can be carried out in two ways:
1. Shareholders may be presented with a tender offer where they have the option to submit, or tender, a portion of or all of their shares within a certain timeframe and at a premium to the current market price. This premium compensates investors for tendering their shares rather than holding on to them.
2. Companies buy back shares on the open market over an extended period of time and may even have an outlined share repurchase program that buys back shares at certain times or at regular intervals.
A company can fund its buyback by taking on debt, with cash on hand or with its cash flow from operations.
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There's no evidence that EGOH has cash on hand or cash flow. Given that it seems to already have taken on debt by issuing shares -- which suggests it has no other source of credit to borrow against -- how could it take on more debt by issuing more shares for the purpose of buying back shares?
I also think a company has to publicize that it is buying back shares, since that would be a material change to stock value that it would be required to disclose. A company cannot engage in 'insider trading' of its own stock for the purpose of buying it back. But rather, as the info says, it must either make an offer or buy on the open market.
With EGOH's track record of (almost) never delivering on anything it has PRd, why would anyone believe a PR that announced a stock buyback? Such an announcement would more likely result in suspension (as too incredible to be true).
