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Thursday, July 16, 2020 5:54:43 PM
To be clear, given the quantum of outstanding convertible notes past due dates that were listed in the latest Q, it seems probable that the O/S will be north of 509 mil when OTCBB updates on 8/1. That said, despite realizing that there is major hair on this ball, I still have optimism that BBRW/J-lew will follow through on the buyback. Following the PR announcing the approval thereof, BBRW is free to start repurchasing shares so long as they are below the 25% of day's volume threshold, and I would not expect an update on the buyback from the company until the earlier of its completion/its next filing.
After much hype, sentiment around BBRW seems to have taken a nosedive among the rank-and-file retail investor community (just judging by this board and other online communities of which I'm aware) -- in large part due to the absence of big revenue numbers that (IMO, based on the timing of PRs) should never have been expected in Q1. It is plausible, in my eyes, that we have a situation where the beginning of the buyback is mitigating what otherwise would have been worse PPS degradation caused by the aforementioned sentiment/some degree of continued dilution.
Apologies for the long (first) post and thanks in advance for any explanations or resources folks may have! Disclosure: current bagholder at a $0.0130 average, really hoping these guys weren't dumb enough to fabricate an order from a public institution (Cal State).
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