TheDirectory.com Inc (SEEK)

[six_cubes]

So.....

"12. CANCELLATION OF SHARES AND BUYBACK PROGRAMS
For some reason, dupes consider the announcement of a cancellation of shares or share buyback programs to be signs of authenticity of the insiders' intentions. Insiders will announce these programs part and parcel with a pump and dump scheme.

The cancellation of shares, usually involving an insider's return of some of his common stock to the company treasury, is usually meaningless because the insider(s) will never give back enough stock to relinquish control of the company. And as along as the insider(s) have control, they are free to reissue themselves stock under a number of schemes, once they have sold enough to put their control in peril. They also probably hold enough preferred shares, options and warrants to give themselves all the future shares they want.

Share buyback programs are usually announced with caveats such, "at the discretion of the board" and "from time to time", meaning they might buy stock when they want, at the price they want and as many shares as they feel like. There has yet to be a significant buyback program carried out on the penny stock market."

http://www.pumpsanddumps.com/p/its-pump-dump.html