Well what did they mean to reduce it to? Look on July 11 they had 502MM, they retired an unknown number and may have printed some unknown number (or maybe not). So on September 5 the share count was 250MM. In the next month, they printed 25MM. Then 10MM. Then 5MM. Then 23MM. Then they retired some restricted or cancelled something. Then they printed 20 MM, then 5MM, then 5MM, then 5MM, then there was an issue in December with the last 5MM where the t/a didn't count it or did count it, who knows.
All the time, they're talking about an on the market share buyback.
When we posted about the printing, they issued a PR saying it was all restricted.
But the share price went down down down.
In the interim, we find out that Rosenman was a nominee for Hayter. I was on the telephone twice listening to Rosenman. Believe me, Rosenman didn't do that.
Why reduce shares but not really reduce them? So that people buy. Why would a company want people to buy their shares in this manner? They shouldn't. But these were unregistered securities dumped on the market and whoever sold them was an insider and most likely should have been restricted.
But one day we're going to learn who the shares were given to and if how they ended up on the market and in what name and who's control it's under.
Hayter was sloppy issuing PRs by Rosenman but signing the documents with the SOS. I bet that the paper trail wasn't hidden real well as to who got paid. We'll see though.
Bottom line is they were printing when they claimed they were buying on the open market.
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