I sent a list of 6 Question to Tom Newberry. - I was able to talk to him for five minutes. I gave him this sample question. He will get to the other questions in two weeks.
“3. Why is it that management is not buying stock in
any meaningful way? We understand NASDAQ and SCC
limitations but in a falling price environment we would be
encouraged if more shares where being purchased.”
His response:
a. We are buying stock, as much as we can personally afford. Although our salaries say we may be wealthy men we are not. We work for salary and our expenses are compensate with our income.
b. We will be awarded shares based on performance and we expect next year to have much more stock through our incentive programs. These are tied to revenue however.
c. The SCC and NASDAQ place limitations on us to some small extent. We can’t just buy. There are timing rules, disclosure rules etc.
d. Our risk tolerance is the same as any investor and although we believe in what we have at GTC we can’t understand the stock price now, we also realize that anything could happen. For some of us to invest more means loans, and it’s always a bad thing to invest with borrowed money.
I have done the best I can, being Dyslexic with poor short-term memory (ADHD)
I can only say this is 90% accurate.
OKY
AI
