Replies to post #9939 on Cemtrex Inc (CETX)

[cheekitlim]

Fake news!

[lucky2505]

Suffice to say, it seems rather odd when a company struggling to cover its capital needs and a proven pattern of dilution announces a share buyback, particularly when its 10-K explicitly states its intentions to raise additional capital. Frankly speaking, I do not expect the company to make use of the authorization anytime soon if ever. My firm expectation is for the company to seize the current opportunity and actually raise additional equity.

https://seekingalpha.com/article/4317487-cemtrex-dilution-much-likely-buybacks-get-short?dr=1&utm_medium=email&utm_source=seeking_alpha

This isn’t the first time Cemtrex has used the buyback ploy.

In a press release issued on June 22, 2016 Cemtrex Inc. (“Cemtrex” the “Company”) announced that its Board of Directors has approved a new share repurchase authorization for the Company’s common stock, under which the Company may repurchase up to one million of its outstanding shares over the next twelve months, depending on market conditions.

https://www.sec.gov/Archives/edgar/data/1435064/000114420416109289/v442757_8k.htm

Nothing came of the buyback then. Nothing will come of it now. I haven't visited stocktwits.com yet today, but it wouldn't surprise me to find some of the dimtwits there calling the Seeking Alpha article 'fake news' or some other such nonsense.