VirTra Inc (VTSI)

[rut2k9]

Wonder why VirTra did not buy back any shares today? They were happy to buy at 3.80 or 3.90 a month or so ago so why didn't they buy some shares in the 3.20s today? They were there to be had.

I've explained this before. Perhaps you didn't listen.

Rule 10b – 18
1. The manner of purchase: The issuer or affiliate must purchase all shares from a single broker or deal during a single day.
2. Timing: An issuer with an average daily trading volume (ADTV) less than $1 million per day or a public float value below $150 million cannot trade within the last 30 minutes of trading. Companies with higher average trading volume or public float value can trade until the last 10 minutes.
3. Price: The issuer must repurchase at a price that does not exceed the highest independent bid or the last transaction price quoted.
4. Volume: The issuer cannot purchase over 25% of the average daily volume.

The stock didn't really trade. 23 damn shares. Roughly $100 in dollars traded. Average volume is like 14,000 shares and dropping. As I've said, when there are too few shares, there is insufficient volume to support repurchasing. And that's before you get to rule 1 and 3. It's just hard to buy any meaningful shares and comply with the rules. I know you think they can ignore the rules. Of course they can't. The capital structure makes the buyback effectively worthless most days.