Really...! MAY 27th 2010
You see a pattern here?
Southwest Resources Announces Board Authorization of Stock Purchase Program
PR Newswire
DALLAS, May 27
DALLAS, May 27 /PRNewswire-FirstCall/ --
Southwest Resources, Inc. (Pink Sheets: SWRS) (the "Company"), a natural resources exploration, production, and mining company, today announced that its Board of Directors authorized a stock repurchase program under which up to fifteen million shares of its outstanding common stock may be acquired in the open market over the next six months at the discretion of management.
The Company's management stated that this stock repurchase program authorization is partially in response to what appears to be a significant and concerted effort to suppress the price per share of the Company's common stock through short and or naked short sales by third parties. Further, the Company believes that despite significant progress in liquidity, visibility and price per share in recent months, the current share price is undervalued. Management stated that its direct action to enhance shareholder value is critical to future growth and in the best interest of shareholders and the company.
Within five days, the company expects to have a trading account number and will begin to repurchase shares from the open market.
The shares will be purchased from time to time at prevailing market prices, through open market or unsolicited negotiated transactions, depending upon market conditions. Under the program, the purchases will be funded from available working capital, and the repurchased shares will be held in treasury. There is no guarantee as to the exact number of shares that will be repurchased by the Company, and the Company may discontinue purchases at any time that management determines additional purchases are not warranted.
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