HPIL Holdings (HPIL)

[Stock_WarLord76]

Per CEO Stephen Brown’s conference call of August 6th, 2021:

“On August 17th, I’m going to put online a buyback proposal and it will be for a certain price whether I’m buying it, or I have a group of investors, close to me that I trust, we’ll buy it. I’m not sure as of today [August 6, 2021] , I still don’t know how much I’m going to put the offer in…but I will know on the 16th, because I’m announcing it on the 17th… It’s going to be a fair price based upon the market.

I’m in discussions with those potential holders of putting the stock back into the treasury, to reduce it [outstanding shares] and doing a future financing deal at a different price, so that’s probably going to happen because I am all about reducing it.”

Question:
If the CEO and/or company sets a share price does that violate SEC rules of stock manipulation? If it is just two private persons (one buyer, one seller) they are probably allowed to do that. It’s a private transaction. But when the company or an officer (the CEO in this case) sets a price, without having cleared that through a prospectus or offering statement, doesn’t that clearly violate Rule 506(b) Section4(a)(2) of the Securities Act?

Furthermore, where is this 'announcement' he said he would make on August 17th?