Clearly Josh Alper either doesn't have the cash to do a buy back or the interest in doing so. Why should he when he can simply print more shares out of thin air as he has already done. Example--->
The Annual Report(December 31st 2016 – June 30th 2016) filed by Alper on 3/31/2017 reads--
Total shares authorized: 5,800,000,000 as of: 04/03/2017 (same as today except for 1 share) Total shares outstanding: 4,760,585,689 as of: 04/03/2017
Preferred “A” (the single 69% Super Vote share owned/controlled by Alper) Total shares authorized: 1 as of: 04/03/2017 Total shares outstanding: 1 as of: 04/03/2017
Less than 2 month later (5/21/2017) he files Q1 2017. The share structure is unchanged EXCEPT that he created a new class of "C Preferred" shares--
Preferred “C” Par or Stated Value:1 to 10 into common Total Shares Authorized: 200,000,000 as of: 05/20/2017 Total Shares Outstanding:0 as of: 05/20/2017
When you add up the number of "B" and "C" shares already issued and outstanding that comes to >>1,275,000,000<< (one billion 275 million) shares to hit the market as new common when converted. So as of 6/30/18 there were still 102,500,000 "C" shares left to issue ---or an additional 1.025 BILLION common when converted.
On page 4 Alper says the 700 million shares issued to Cann10 are "restricted" (though he didn't say for how long). HOWEVER, on pages 11 and 12 the word "restricted" is strangely absent when speaking about the issuance. Moreover, on page 14 under "Beneficial Shareholders" it says--
3) Cann10 North America (percentage owned) 13.0% (Type of Security) >>Common<<...again nothing about them being restricted.
Alper says he acquired 25% of Cann10-NA on 12/31/17 for "700 million" shares. However, between the two disclosures above the O/S increased by less than that amount --625 million to be exact. Mind you he issued common shares to others at the same time.
I would assume anytime restricted shares are issued they should be counted in the O/S. If not --and if he issued 700 million restricted to buy 25% of Cann10-NA-- then 625 million common was issued to others which resulted in the increase in the O/S.