Hi wise, I'll bookmark your board, I recall IBIZ saying they were going to have a buyback last year when the price was around .20, did it happen?
RE: .01/ New York, New York, Mar 13, 2002 (Market News Publishing via COMTEX) -- iBIZ
Technology Corp. announced that it is implementing a repurchase program for up
to 50 million shares of its Common Stock. The Company intends to use proceeds
from the repayment of officers loans to re-purchase the Common Stock in the open
market. This decision was based on the Common Stocks market price which
management believes is undervalued.
Commenting on this repurchase program, Ken Schilling, iBIZ president and Chief
Executive Officer stated, "Since the heavy conversion of the convertible debt
began, iBIZ has seen its share price continue to deteriorate. The stock
repurchase program is a viable alternative to other more drastic measures to
decrease the amount of shares in the public float. iBIZ has made tremendous
progress in reducing debt and corporate burn with an extremely lean staff and
overhead structure. We are completely focused on our twenty-two year-old core
business of providing innovative technology solutions to both niche and retail
markets. We are now on track and have no plans to accrue any further debt and we
believe we will be self-funding in the near future. Repurchasing and retiring
our common stock will not, however, take funds from future product development
and marketing efforts."
imho, Jerome
