CEO says, he'll buy $500,000 worth of shares in the open market later. But If he buys shares right now instead of later, he'll take lots of shares off from circulating, less and less shares for day traders and flippers and obviously the share price will be going up automatically.
I think it'll be a wise move if the CEO starts buying $500,000 worth of shares now in the open market.
Here's what the CEO says bellow.
"Our CEO/Chairman will then seek to buy half a million USD worth of shares on the open market with his own personal funds post-split as a confidence boost to the market. Additionally, the company will seek to start its already previously disclosed buyback plan".
$SONG: To answer questions about the Stock Consolidation (reverse stock split) is simple: if the valuation gets corrected by the market now that our audited financials are out, we will cancel it. If it doesn't, we will move forward with a crazy aggressive Stock Consolidation (with the goal to have fewer than 30,000 Shares outstanding). Our CEO/Chairman will then seek to buy half a million USD worth of shares on the open market with his own personal funds post-split as a confidence boost to the market. Additionally, the company will seek to start its already previously disclosed buyback plan. If this scares anyone, then we are not the company for you, as you are most likely a day trader or "tick flipper" who only cares about our company to try and sell shares at the next price level up. Why are we doing this? Simply put, we have over $1 billion USD of revenue and a market cap that is still surprisingly low. Not to mention, every time the company gains traction, there are individuals who buy up a bunch of shares, and then, when the price increases a couple of ticks, they sell all their shares at once, causing everyone to panic and blame the company, which then creates a false narrative of "dilution." So, for those who have asked, there is your answer: we will cancel it if it makes sense to do so, and if not, we will proceed with it...
Bullish
