Not even remotely true, and there's been hundreds of PubCo's over the many years that take on increased debt to fund their share buybacks. And although a share repurchase reprogram will reduce the company’s cash holdings(and consequently its total asset base on their fully audited balance sheet by the amount of the cash expended in the buyback), and the buyback will simultaneously shrink shareholders equity on the liabilities side by the same amount...the overall positive performance metrics such as return on assets, and return on equity typically improve subsequent to a share buyback.
And the bottom line at this point of the entire VYST buyback subject is that unless VYST's insiders put up a lot more cash and/or VYST's commercialization endeavors result in a lot more immediate available cash to devote to their buyback, the buyback monies raised way back in early January were factored in at a share price around a penny or below share price which at the current prices would result in a negligible O/S reduction.
So VYST's buyback as it was originally laid out in early January isn't gonna reduce their O/S by any relevant significance unless and until they raise more cash for it. And the significant approx. 450M share VYST insider ownership position is currently a lot easier way for them to eventually decide to lower their O/S moving forward, if/when they still deem it needed in advance of their eventual Nasdaq up listing application objective.
Had the broker/dealer's compliance department way back in January not ended up rejecting VYST's share repurchase program due to a potential conflict of interest with a Schwab employee who's also 1 of VYST's insiders, then the buyback program would've already occurred. And according to last nights tweet a small/minimal amount of shares were indeed bought back in Q1.
So all the bs about the state of Georgia's buyback rules or any laughable reason put out there equating to VYST supposedly not being allowed to buyback shares is just that, bs...and anyone attempting to conflate the state of Georgia's buyback rules with any other Georgia corporation rules is providing a laughable distraction on an issue that right now isn't even on the radar for the majority of most VYST investors who know that VYST has much bigger valuation driving fish to fry, and know that VYST can re-visit their share buyback issue when they have more available cash to actually put a meaningful dent in the O/S if they feel it's still merited towards late summer after all their other approaching value has been unleashed.
Market Data 
Markets 
AI
