Grapefruit USA Inc (GPFT)

[Majobuki]

Check out the bold part. There was no promise that the share buyback would even happen. It may have been just a fluff PR but doesn't mean the company is a scam.


Imaging3, Inc. Announces Management Stock Buy Back Plan

Thursday, 24 Mar 2011 07:00am EDT

Imaging3, Inc. announced that its Board of Directors has approved the repurchase of an aggregate of up to 5% of its outstanding Common Stock, by the Company's management, effective immediately. The shares will be purchased from time to time at prevailing market prices, through open market or unsolicited negotiated transactions, depending upon market conditions, in accordance with Rule 10b-18 and the reporting and other requirements of section 16 of the Securities Exchange Act of 1934, as amended.

There is no guarantee as to the exact number of shares that will be repurchased by the Company's management, and the Company's management may discontinue purchases at any time that the Board of Directors determines additional purchases are not warraned.

The repurchase program is expected to continue over the next 12 months unless extended or shortened by the Board of Directors.