Do you know why they mentioned a buyback? To keep interest. They never said they WERE going to do it, they stated that they INTENDED to do it.
Perfect marketing. If you go back and read the posts in February and March, people are consistently claiming the buyback has begun.
Imaginary conversation:
Carol: With this credit disaster, we're up the creek here boys.
Ed: Let's issue TEN BILLION shares.
Carol: Our PPS will be in the triple zeros.
Ed: People will buy them.
Carol: How can we have TEN BILLION shares and keep people buying them?
Rick: Let's tell them that we intend on buying the shares back.
Carol: Perfect plan. If we mention a buyback and simply tell them that we "intend" on doing it, we can't be held accountable. It's not as if we're going to say that we "are" going to do it, just that we intend to do it.
Ed: With an O/S and A/S this high, people will fear a reverse split, but I have a great idea. Let's spin it so it looks like we won't, but make sure it doesn't actually say that we won't. Something like this: It is the viewpoint of management at this time that a reverse stock split without the fundamentals to support a higher price would be harmful to both the Company and our shareholders.
Carol: Ed, I knew there was a reason I married you. That's is diabolical, but exactly what we need. The common investor will read that and think we're saying that we won't do it.
Ed: Exactly, my love. Here's what else we'll do: Before we release our financial reports, we'll all sell our shares slowly. They'll never suspect it. Then we'll do a reverse split, release the audited information and uplist. Then we're on our way!
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HCPC is bananas.
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