Hi,
I'm new to this board and have some remarks of my own.
I have followed this stock for 3 months now, and in the last couple of weeks I have noticed that a few people had problems with the fact that they (the management) bought FFGO shares back (probably restricted) for the price of 1.44 cents (which is 140 times the current price, and not 1400 times like overachiever stated, but still, I can see his point in saying it's strange not to buy back on the market).
However, I don't think that this is a bad thing and here are my 2 reasons why.
The first reason is, like breharb25 stated a few posts earlier, that if the company is really thinking of increasing the value of the company and want to see this reflected in the share price, it is not in their best interest to increase it by buying up just the float and then see it go down again when all the other shares (restricted shares) are dumped on to the market when they become available (which is, if I am correct, march 2009).
My other reason (which is based on the first one) is that if they would buy back the float first and then start buying back the restricted shares, for the reason above, that the average price per share would have increased because of the enormous amount of shares you could by with a lower amount of money, and they would need to spend more money (more then 1.44 cents) just to buy them back.
This is just my opinion and the reason why I think I should stick with the amount I have (which is 13 million for those who want to know).
If there are people who like to comment to this post, either positive or negative, I will answer in the best possible way.
I am not an expert when it comes to stocks, but I will do my best to make it as clear as possible.
GLTA,
Apoc
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