Don't count on news as fact. The share structure for this limited info pink is in flux. Seems management is playing both sides (the VC's and China partner), for their own eventual benefit. When they modified the authorized to 1 bil shares they added a poison pill blank check preferred, to keep ownership of the company no matter how outrageous the share structure changes.
Besides buy backs don't make one rich. Only look richer. It's an OTC PR trick to say buy back. Just ride the wave and get out and let the story to the company.
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