"TenK: You CANNOT state for FACT that BVTK cannot undertake an ASR AT THIS VERY MOMENT w/ the assistance of equity investors similar to how Virtusa did. That would be a false statement."
I can because their actions have to be based on what has been publicly disclosed and the last financials definitively show they are unable to affect any buyback under Colorado Corporate Law.
And even if they were able to, as an SEC filer they are required to disclose a planned share repurchase program under Rule 10b-18. They have made no such disclosure.
So again "AT THIS VERY MOMENT" they cannot undertake any share repurchase program either directly or through a 3rd party.
We also know their Articles of Incorporation make no allowance for a buyback with assets being less that liabilities. The AoC are included in the original Form 10-12g filing.
"Are you saying TC is being deceitful to his common stock shareholders when he strongly suggests NO R/S and instead they are looking at equity investors to assist in a share buyback?"
Tom has never said "NO R/S" specifically. All I have seen are phrases like "no plan to do an RS", "no desire to do an RS", "don't want an RS". At no time has Cellucci made a definitive statement that they will not do an RS. That notion has been purely the interpretation some have made of his words. All of his statements that have been posted with some screenshot or other support COULD HAVE BEEN MADE PRIOR TO THE LAST RS and STILL have been accurate. In fact some of them were and discussed on this board at length back in the first half of 2016. That is some interesting reading.
The two prior reverse splits were driven by necessity not by any desire or "want". If this stock goes back to the trips and loses liquidity but significant convertible debt remains, it may become a "necessity" again.
But from my perspective it is not a risk in the near term given where the stock price and trading liquidity are currently.
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