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Friday, August 20, 2021 5:32:52 PM
Has nothing to do with the buyback, correct.
It eliminates 500K of debt from the company, in exchange for RESTRICTED shares that are locked up for at least 12 months, and Henry did pay for them with funds he was owed by the company.
No different then if the company cut him a check today for $500K and he turned around and bought the shares on the open market.
He was owed that money, but he now bet on himself to win bigger, as he didn't take 100M shares in order to get back $500K. He plans on making way more then that.
Smart, strategic move for sure.
Always check for water before diving in head first.............
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