No it is not. Retiring shares is, which is what the latest 8-k confirms will be happening.
Don't believe the 8-k? That is fine. That's why we all invest. We are speculating. I am speculating that the company wouldn't risk getting suspended and sent to the grey sheets by filing an official 8-k that is just a fleece.
IMO. TPAC will be multi cents within the buyback time frame. Easy $$.