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Thursday, April 28, 2005 7:03:53 PM
What I have no idea about is whether CTKH sold billions of shares solely to purchase Valley Design, and if so, if they still hold all the money the sale generated. I suspect they spent some of it on Hybrid, perhaps some on the new ovens, but perhaps they're still holding substantial cash. The real question, IMHO, is are they making millions every month, or even hundreds of thousands. If they're making substantial money, I'm not against a stealth buy back, if the law allows such an action.
Wouldn't you love to wake up some day and find that CTKH's outstanding shares were something under a billion. As I say, I don't know that they can legally do it, but I suppose if they control a majority of shares that authorize new shares be sold, the same majority could authorize the shares be bought without a public announcement. If they made the announcement, they could never afford the shares.
It's truly a Catch 22 situation, if you announce your intention, you can't afford to do what you want to do. If you do what you want to do in private, you may be violating the law, though I'm not certain of that. Whatever they're doing, I hope they're able to complete it soon.
I believe once audited figures are available the price will rise substantially. A further buyback at higher prices could be very positive, but would be substantially more expensive.
Gary
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