Replies to post #43543 on Strattner Financial Group (SCNG)

[Tamifluer]

Then tell me this. On their 3rd quarter report, they mentioned:

"Third Quarter 2009 Highlights

* Net income in the third quarter of 2009 was $468,000, compared
to a net loss of $10.7 million in the third quarter of 2008.
* Decreased selling, general and administrative expenses by 67% to
$1.0 million in the third quarter of 2009, compared to $3.0
million in the third quarter of 2008.
* At September 30, 2009, maintained cash and cash equivalents of
$154,000.
* In September of 2009, recording a $2 million gain on the
exchange for Evolution Fuels convertible notes for 200,000
shares of PNG stock.
* Subsequent to September 30, 2009, the Company bought back
584,120,000 shares of its common stock. The Stock Buyback
Program was announced on September 24, 2009."

Why did they not mentioned anything on this again on their Financial Results for Fiscal Year 2009?

I believe that their buyback program is on a "Stand still"
and probably won't resume again. Why buy back when one can just R/S and then retire shares as they please to do it all over again. Nothing can be gained if they don't produce anything. GLTY

[nobullhere]

Do you follow this on level 2 ot Tarot cards?
Cause what you're says makes so sense. It did make me laugh though.

Your absolutely right, the price will go up. Good point. Friday scared and weak hands sold as the MM's manipulated the stock down. Each tick drew more in. I am guessing Monday we will see .01 and then a huge chunk of buys, the company and investors alike will be scrambling for shares. The longer it stays in the .01 range the more shares they will buy and at a huge discount (60%) from the .0001 that it was 10 days ago. They will probably buy all the way up to .025 or so.
The buyback was approved and they have cash, they just now need less of it to carry out their plan.
After that then up, up, and away. Better be on board.