They are putting them in the treasury and they will be converted to preferred shares. The Company IS NOT BUYING BACK anything. They don't have the money in the first place. Where did you get this wild idea from?
So much for the CEO's PR about this PPS breaking through the .005s in the coming days lmfao. That was OVER 3 WEEKS AGO. What a joke.
If its a buyback then they should buy it at the ask. When it is sells on the bid it is someone selling. You can't do a share buy back on the bid. You can only bid wack when you are diluting.
I would say it is more than a buy-back shares. It's a rock-bottom play, no reverse split, with recent developments and even more in the next weeks, and few PRs every month to keep the shareholders informed. You can't get any better IMO.