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Re: kennypooh post# 25166

Tuesday, 09/01/2020 12:02:47 PM

Tuesday, September 01, 2020 12:02:47 PM

Post# of 41921
You are suggesting that a shareholder vote is a prerequisite for a buyback? This is not correct. The corporate action required is authorization by BBRW's board of directors, which was obtained and announced previously (easy because the board has one member, Jef Lewis). Although I personally think that BBRW and all public cos should 8-k all PRs as a matter of course, a PR does suffice in terms of notification as I understand SEC buyback regs.

SoS approval for the buyback is a different matter and they would presumably need to show more recent (and better) financial information than the last 10-Q in order to be approved. I am not aware (perhaps you are) of when any SoS applications/approvals would become accessible to the public. I do not believe that BBRW is obligated to update the public on that level of play-by-play, and if I were them I wouldn't, because it would potentially drive up PPS and limit the number of shares that could be repurchased.