Native American Energy Group Inc. (fka NAGP)

[Foxwoods Man]

Yup..that's what they say. Kinda like they said repeatedly that they were going to file the required quarterly reports to remain a viable, tradeable equity...never happened. So take what they say with a big grain (block) of salt...kinda like EVERYTHING they said they were going to do...

We will see....still makes no sense to me but my ears are open for anyone to explain the logic as to why they would do this...

Here are the reasons on their website for a share buyback (numbers added):

There are several reasons why a company would initiate such a program:

1)Increase Earnings Per Share By Decreasing Shares Outstanding
2)Return Cash To Stockholders Without Increasing Dividends
3)Most Efficient Use Of Cash
4)Offset Dilution From Issuance Under Equity-Linked Incentive Plans

1) that would work if they ever had positive earnings
2) Dividends? Really? They could have returned cash to Stockholders by remaining current and letting them sell their shares
3) Yup, have to find a way to manage all their profits...just joking
4) there can be no equity-linked incentive plan without an equity

..and why the hush, hush "privately negotiated price" ? Every reported buyback price then becomes unreliable and unsubstantiated...tell me how they can buyback shares that do not exist anymore

Believe what you want but I think it is just cruel for them to prolong this wretched journey