Eagle Worldwide Inc.(fka ELWD)

[dlewisfl]

laptop: I don't interpret it that way.

The BoD initiated the program. What is the program? According to the PR: The company's board of directors has authorized management, in its discretion, to purchase up to 1 Billion shares of PYPR common stock over the next 12 months What was intiated was the authorization to buy shares at their discretion.

Yes, they could have bought shares that first day, but I don't think the text you highlighted is a definitive statement they did. The only guarantee I see is that management was authorized to buy back shares that day. Hopefully for the sake of the LONGS, management used their discretion a little more wisely because there was a pretty good price drop AFTER the program was initiated. Would hate to see them buying at .004 - .0045 when shares were going for 33% less two trading days later.

Although we won't know when they bought, the next financial statement should show how many shares were bought back (and the total cost). I say should because share buybacks are usually documented in financial statements.