![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Sunday, December 06, 2009 5:47:57 AM
"Third Quarter 2009 Highlights
* Net income in the third quarter of 2009 was $468,000, compared
to a net loss of $10.7 million in the third quarter of 2008.
* Decreased selling, general and administrative expenses by 67% to
$1.0 million in the third quarter of 2009, compared to $3.0
million in the third quarter of 2008.
* At September 30, 2009, maintained cash and cash equivalents of
$154,000.
* In September of 2009, recording a $2 million gain on the
exchange for Evolution Fuels convertible notes for 200,000
shares of PNG stock.
* Subsequent to September 30, 2009, the Company bought back
584,120,000 shares of its common stock. The Stock Buyback
Program was announced on September 24, 2009."
Why did they not mentioned anything on this again on their Financial Results for Fiscal Year 2009?
I believe that their buyback program is on a "Stand still"
and probably won't resume again. Why buy back when one can just R/S and then retire shares as they please to do it all over again. Nothing can be gained if they don't produce anything. GLTY
Cannabix Technologies and Omega Laboratories Inc. Provide Positive Developments on Marijuana Breathalyzer Testing • BLO • Jul 11, 2024 8:21 AM
ECGI Holdings Enhances Board with Artificial Intelligence (AI) Expert Ahead of Allon Apparel Launch • ECGI • Jul 10, 2024 8:30 AM
Avant Technologies to Meet Unmet Needs in AI Industry While Addressing Sustainability Concerns • AVAI • Jul 10, 2024 8:00 AM
Panther Minerals Inc. Launches Investor Connect AI Chatbot for Enhanced Investor Engagement and Lead Generation • PURR • Jul 9, 2024 9:00 AM
Glidelogic Corp. Becomes TikTok Shop Partner, Opening a New Chapter in E-commerce Services • GDLG • Jul 5, 2024 7:09 AM
Freedom Holdings Corporate Update; Announces Management Has Signed Letter of Intent • FHLD • Jul 3, 2024 9:00 AM