To be honest, I wasn't expecting a response. Like I said in one of my last posts, once I sell I will not come back in here and rain on anyones parade. Thats not my style and I do not understand people who do that kind of crap. I sold on the last runup in the .002's and will sit on the sidelines until I see some things cleared up here. What I would like to see answered are the following:
1) Where is the cash coming from to buyback shares? VERY important question that I asked the compensated IR guy on here, and he said he would get back to me. Of course, I still have not heard anything. I bet if I was asking something more positive, I would have had a response by now. Such as other posters who were asking if the buyback started yet. He answered that one pretty quick and even provided a link where Roxy posted it on Facebook. Also the IR guy told me to email him questions I may have versus posting it on the board. Wonder why? I bet if my questions were more positive in nature he would not have made this request.
2) If buyback has started, why is the volume still so low and why aren't they buying at the ask? All I saw where bidwhacks which to me appeared more like dilution. Another poster said they believe there are rules that the company couldn't buy at the ask. This is completely false. Never heard that before and this poster did not provide backup as to where they saw this rule.
3) Company says they have over $100M in assets and their book value is .08 per share, but no financials have been released. Are they even bringing in significant revenue? Seems to me that the easiest way for them to get to their book value of .08 would be to release their financials, if indeed what they are saying is true. That alone would trigger enough buying to get this to at least .02-.03. And this could be accomplished without needing to do a buyback.
4) You mentioned the same thing I said last week about the amount of shares they are buying back. Without them mentioning HOW MANY shares are being bought back, they could be buying back 10 shares per day while dumping millions! Someone thought I was completely out of line when I said that, but it is true! Most companies that announce buybacks say how many they will be buying back and sometimes they will give you the timeframe and if they will be buying in the open market or not, etc. This company has failed to provide these details.
I hope you all make bank here, as it could indeed happen. However, my risk/reward ratio is not allowing me to continue playing this until some of these questions are cleared up. I will not post anymore about it after this. Good luck to all.
First follow the money, and then let the money follow you!
