Agreed, what unencumbered cash will be used to enact a share buy back? MHHC has $6k in the bank. If a company were to borrow to do a buyback, it accomplishes nothing, the shareholder dilution remains the same.
Also keep in mind, due to MULTIPLE BILLIONS of Outstanding shares, it will take a huge cash outlay to even attempt to put a dent in a Buyback program - this appears to be just another OTC pipe dream.