Good point, I actually thought this was going on a a while ago when we had higher volume. It would make sense to just buy back and cancel shares since they are so cheap. It could be part of a turnaround.
The problem is way too much time has gone by. The company is seriously in arrears with filings, and while operating they are at risk of being de-listed at any time.
There are companies out there with no product or just an idea for a product and they have 10-20 million dollar market caps. All they have to do is raise some money take out a bunch of these shares and move forward.
Oil prices rose a bit over the last year so that helps. The problem here is without any news from the company no one knows anything. If something is going to happen it would have to happen fairly soon.
Everything I post is my own opinion and people should always do their own research and due diligence on any company they are looking at
