BobChar, the PR dated July 17, 2018, does not give a reason for the buyback decision. I picked out 2 statements coming close to a reason, but again not really a reason:
(1) "The timing and extent to which the Company repurchases its shares will depend on a number of factors, including, but not limited to, market conditions, price, trading volume, corporate and regulatory requirements, alternative investment opportunities, and other economic conditions."
(2) Pres. Mark Malone said, "...We believe this reflects the board’s confidence in Mikros Systems’ financial strength, overall commitment to shareholders, and its long-term corporate strategy.”
Is it MISLEADING INFORMATION from the company about "the board's confidence" or just BAD FAITH explanation? or both?
"reflects...overall commitment to shareholders."-- simply not true.
