You make very good points.
In addition, the company announced setting aside up to $3M to purchase shares at up to $0.06 per share. By our reckoning they should have a lot of dry powder left and have done it all at about $0.012 per share average. So, they should not have to touch that approx. $700k after taxes windfall for stock buyback purposes because my guess is that at least half of the original buyback set-aside should be still available.
I have been watching this action for a few months (my original cost was $0.018 per share) and I have brought down my average cost to approx $0.012 per share. The way I look at it, the bashers that visit occasionally helped me because they probably have caused some capitulation which helps the company's buyback process. In lowering the price, they have also helped me lower my average cost thru more and cheaper purchases on my part.
Today's price is a relative bargain, or throwing good money after bad, depending on your perspective. Life is full of choices.
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