Destiny Media Tech Inc (DSNY)

[commoncentsinvestor]

<Can you explain to us how this is a profit to DSNY are you saying that they will sell these shares for more.>

Actually, yes, this can be done as explained in one article about buybacks:

"Often, companies will repurchase their stock if they feel the market has undervalued it. Usually, the firm will later sell the treasury stock back after the stock value increases."

Judging from how DSNY has handled buy backs in the past (cancelling the shares as outstanding) that may not be the case. If they cancel the shares than that is more of a benefit to the shareholders as it reduces the number of shares outstanding thus making each share worth more. It also has the effect of increasing PE which again will be beneficial to shareholders if DSNY becomes profitable. It also can have a positive effect on ROA & ROE.