It's up to the Board of Directors
A share repurchase is authorized by the B.o.D.
In that authorization, they spell out the details of the authorization, including but not limited to: maximum price the company will bid for shares, date range during which the buyback may occur, and the maximum number of dollars that may be used for re-purchase.
Once the authorization is approved by the BoD, management can then implement it, within the bounds set by the BoD.
Even without a share buyback, this stock should firm up soon, as the company achieves cash flow positive and no longer needs to issue shares for interest payments and bill payments. That alone will reduce the selling pressure from the company.
Taking it a step further by authorizing a share buyback will turn the company from a massive seller of shares to a massive buyer of shares. Not only will they stop putting heavy selling pressure on the shares, but they will also begin to put buying pressure on. In addition, the tide of other investors will likely turn, in favor of that trend, with short sellers covering their positions and new buyers coming into the fray, as well.
A confluence of positive events like this will really fire up this stock. It really could take off like a space shuttle launch, or even a Mars explorer.
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