I'll tell you how I see it. SG owned roughly 70 mill in restricted shares. SG sold 34 mill in restricted shares to the market as they became no longer restricted after a year (rule 144 look it up) adding to the float. Then SG used the so called "share buyback program" to buy back the rest of his no longer restricted shares. Thus resulting in a 34 mill increase in the float from his sale, and a decrease of 34 mill from the o/s because of the buy back of his remaining 34 mill for a grand total of nearly $80,000 (depending on how much he paid himself for those shares) in SG’s pocket. Now that’s a nice scheme, why did I think of this???? Nice bonus for a startup company you would think we could find something better to spend it on, oh yeah that website that doesn’t function. Yeah great buy back!!!! for SG.
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