Wednesday, February 06, 2008 8:21:15 AM
I love reading this statement...gives me hope or should I say more hope. Why say "repurchase" because "Board of Patriot feel that Patriot stock is currently undervalued..."
From Letter to Shareholders dated January 29, 2008...
"The Company is currently unable to repurchase Patriot shares in the market at this time due to the same blackout period that currently prevents insiders from stock transactions, but we previously engaged in a share buy-back program until the last quarter of 2007. Both the buy-back and dividends were significant because, to our knowledge, no other bulletin board companies have ever taken such actions.
We certainly share the frustration expressed by many of our shareholders regarding the share price of our common stock. Management and the Board of Patriot feel that Patriot stock is currently undervalued, and we hope that our activities in the near future will lead to increased investor confidence that will be reflected in a higher share price."
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