Advanced Technetix, Inc (fka AVXN)

[ragsisme]

Based on the PR about the buyback:

"Advanced Technetix, Inc. (Pink Sheets:AVXN - News) announced today that it has entered into preliminary agreements with five of its larger investors to reacquire some of the company's outstanding stock. Through this plan, Advanced Technetix would reacquire, collectively, in excess of 80,000,000 shares. The company anticipates reaching definitive agreements to reacquire such shares before the end of January. This program would immediately reduce the float by approximately 42% and reflects management's confidence in both the near- and long-term prospects for Advanced Technetix.

If they in fact are reducing the float and not just the OS, then I am not sure they have started yet. Seems the impact would have been a little more positive. Guess we wait for a couple of weeks to see what they have done.