They probably had a hard time buying back shares on the open market, which would explain why they wanted certed shares more than the NSS arguement would explain the certed shares. yes I know, it was an awkward sentence.
First off, when a company buys back shares in the open market, they can only buy on the bid, and cannot take offers. That is a rule..NOW, since MM's are not required to reflect a customers bid on a pink sheet stock, and the NITE and one other MM seem to have the call on this one, they would have a tough time buying, since if they were at the bid at say, .01, and the ask is .105, they could only buy at the bid, .01... but since the MM doesnt have to reflect their bid, it could move down to a .01 ask, and the company could not buy shares at the ask, even though their order hasn't changed... i hope I explained that one correctly.
