collegegrad, nice to see your posts and questions. Of course they are all perfectly reasonable. I have been following this stock for years. It is garbage, pure and simple. I will give you my take on your questions.
""1) Where is the cash coming from the buyback shares? ""
EMXC does one thing. It doesn't sell products, it doesn't report its measly revenues... what it DOES DO is produce meaningless PR that gives amateur pink sheet investors hope.
This "buyback" is part of that facade. Just remember this, if the company buys back 100 shares, then it can state it bought back shares. Did they buyback more than that? Sure. Did they back back a significant amount? NO! I would wager any amount on that. Any takers?
IN THE LAST 2 MONTHS THEY FILED to INCREASE authorized shares by half a billion, and they issued 60 million shares. WHY? They have no business and have no cash. THE COMPANY ITSELF has documented that Execs are putting up money to support the company!
Most reasonable people would understand that a company in this state would be the LAST COMPANY to buy back shares.
""2) If buyback has started, why is the volume still so low ""
See my answer to Q1. The buying is token buying at best.
""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?
They released preliminary audited financials in April. These show the sorry state of the company. Their revenues for 2009 were around $50,000 (from my memory) and were down 50% from 2008.
Note the company will NEVER DISCUSS revenues or where even they are coming from.
Wonder why?
4) You mentioned the same thing I said last week about the amount of shares they are buying back
Yes, you are observant and correct. THANKFULLY although this company does everything in its power to keep from reporting the whole truth to its stockholders, authorized and outstanding shares are REPORTED through the pink sheets. We should see the truth on the pink sheets website whether the company or its paid PR want to release the info or not... in time!
Stick around!
Note that the company nor it's PR has even ADMITTED that the authorized shares were increased half a billion. And didn't even mention it in the several interviews since the filing.
When you read responses to my posts look how they never challenge my facts. Wonder why?
2813 Days since 2003 Dividends were declared and not paid! Don't worry, they are coming "soon".
