"$1M cash would buy back .001% of the float!"
I'm sure that you will acknowledge that to be your quote. When I saw it, something very wrong jumped out at me. The numbers you provide for how many shares of Hemp, Inc. stock could be bought back at current PPS appeared to suggest to me that you may have made at least two math errors in your computations. Both the significant digit in your results and the number of places past the decimal point seemed off.
Since I believe that you would be honest enough to want the record corrected if wrong, I took it upon my self to run the numbers. I believe you wrote your post after market close yesterday, so lets work with Hemp, inc's close of $0.0104. And further, lets assume that $1,000,000 is an acceptable amount (cash and cash equivalents = $1,061,735 as of 9-30-19 on latest Hemp, Inc. quarterly report).
If one divides $1 by $0.0104, you get 96.153,846. So, every dollar Bruce would use to buy back shares at this PPS would buy a little over 96 shares of Hemp, Inc. So, a million times that much would buy back a million times as many shares -- or ~96,153,846 shares.
Now, if one divides ~96,153,846 (shares bought back) by 5,460,369,694 (outstanding shares), you would get ~0.0176094 (in decimal form). To convert to a percentage as you did, one would need to multiply by a hundred. So, it would come out to approximately 1.76094%
How much greater a percent is that then the one you quoted? If you divide 1.76094 (the percentage that I arrived at) by .001 (the percentage figure you stated, you get 1760. What does this mean by interpretation of these two figures. That my percentage is 1760 times as large as the one you supplied. And, that means that Hemp, Inc. (Bruce) would be able to buy back 1760 times as many shares at the current PPS as compared to the number you stated.
DISCLAIMER: Even though I was a math major in college and taught high school math, I do make math errors, also. I could be in error, and would hope that, if so, I could stand corrected. I leave it up to the reader to double-check the math by both of us as part of your due diligence. And, most importantly, don't assume a share buy back is imminent. Believe it when you see it in the financials of Hemp, Inc. or by a press release personally put out by Bruce himself.
I'm personally ambivalent on the share buy-back issue. If the money could be better spent toward expansion (or to maintain a healthy cash reserve, so as to not have to sell more shares at ridiculously low prices), then I would say hold off on heavy amounts of buy back for now.
Go Hemp, Inc.!!!!!!!!!!!!
