Replies to post #14789 on Ideal Financial Solutions, Inc.(fka IFSL)

[babeemer]

I bet it is a very small percent as i think they used some profits to payoff all of their debt. The balance sheet should look very good.

[chrizzy]

sometimes i read between the lines too much.. but I took their statement to mean 3% a month for the next 6 months..

"As revenues continue to increase, management has decided to take a minimum of 3% of our monthly profits to be used to repurchase common shares from the open market and to retire those shares to treasury for the next six months,"

or was it meant to mean... at least 3%.. which they more than did with the 27M... of that particular month (Oct. i believe?) and then take the next 6 months to retire them all?

I'm not clear on all this.. retiring.. are they usually retired immediately?