Depends on how much the interests was on the debt. It could allow the company to focus on expanding the business now and reinvest its profits on today to today cash flow operations such as employee compensation. In the long run they save money and increase shareholder equity which is probably better when it comes to gaining the interests of institutional firms. Also, the company may be looking to take on new debt for a building or something and wanted a better rate. Be cash positive when the time comes to get the loan. Ed is trying to build the business. It seems very smart what he did and at the same time increase or stabilize share value. IMO
This was something that was done a year ago. At the time it made sense to get MYEC out from under its debt load. It also allowed us to buy shares on the cheap. Ultimately yes it woulda been nice to keep the shares limited, but financing down in the OTC is typically toxic. And there would have been no guarantees the liquidity would have been there for them to raise the funds on their own.
I dont expect to see any more shares popping up. Im sure there will be exec stock plans, but its possible a buyback will help even that out. Im sure there will be a hefty chunk of the float bought back over time.
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