"IMO if the company puts out a PR that they are buying back shares with part of a 15mil dollar loan they why not use some of that money to retire the debt."
actually, it may not be possible due to the terms of their loan agreement. read tbennett's theory (he has a lot of experience in lending) and perhaps he can walk you through this:
"In there buyback PR they let shareholders think that shares were going to be retired only to find in one of their filings that its going to insiders."
are you serious? the filings are from june 30th of 2009 and earlier. meanwhile, the buyback PR was from september 16th of 2009. so, unless we bend the laws of physics, how could the filing contain any info related to a buyback? time warp? what you said makes no sense at all.