The buyback program as currently planned will take place between March 1, 2019 and February 28, 2021, with an initial target of 10% of the current outstanding shares of SOHM, Inc. common stock (approximately 154,000,000 shares), with not less than 50% to be retired.
Then Covid hit, and they decided against the buyback, in favor of using funds for the acquisition...
The company has been in discussion and negotiation with the pharmaceutical acquisition as announced recently and hence it has put hold on its "Share Buy Back" as previously announced. The company plans to utilize the resources for the acquisition as well as for operation and development. Also, during the year 2020, due to a totally unforeseen expected year..."
They didn't go dark on the subject for 2 years...they gave themselves 2 years to do it, then Covid hit...changing their plans, so they are explaining. They just didn't tell us about it until May 2021.
IMO, the share buyback was over-rated anyways...at the then current prices, if they bought 150,000,000 shares it wouldn't have gotten us to .003.
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