OMG....."ON THE OPEN MARKET" !!!! and take a GUESS "WHO" that buyer is ??
IMHO !!!!!!! CAN YOU SAY "POT HOUSE" !!!!!!!!!!!
1. A share repurchase is in the best interest of the Corporation. The capital of the Corporation is not impaired and such repurchase shall not cause any impairment of the capital of the Corporation.
2. The purpose of the share repurchase is for general corporate purposes.
3. The purchase price upon repurchase not exceed any outstanding option or redemption values.
4. The Board may in its sole discretion elect to retire any and/or all repurchased shares from time to time. Any shares not retired may be retained as treasury shares or used for any other valid corporate purpose.
5. All share repurchases shall be conducted in an open market. No off-market transactions shall be used to effectuate the repurchase of shares of the common stock of the Corporation.
6. There are no significant corporate developments that have not been previously disclosed related to the Corporation.
7. All shares repurchased by the Corporation would result in a decrease of the number of freely trading shares of our common stock in free float from time to time.
8. There is no arrangement contractual or otherwise extant related to this repurchase of common shares of the Corporation.
9. Any purchases of our shares of common stock made pursuant to this share repurchase are to be made subject to the various restrictions related to volume, price, and timing as set out in the applicable securities rules and regulations in an effort to minimize the impact of such repurchase on the market for the shares.
10. The share repurchase shall consist of no more than 20% of the issued and outstanding shares of common stock in the Corporation as may be in issuance from time to time. No other classes of securities are affected by the share repurchase.
11. The share repurchase does not conflict with any outstanding loan agreements, restrictions on other classes of securities of the Corporation, or any other commitments of the Corporation.
12. The share repurchase has been duly authorized as evidenced by this resolution and does not conflict or contravene any other corporate policy or rule.
13. The share repurchase shall be funded by a third-party, non-affiliated loan to the Corporation on terms and conditions to be agreed and approved by the Directors.
