OK, but what is your take? Management did contacted Spanish consul and verdict was - their claim is groundless. I think in a few month as we proceed with acquisition it will become side issue. The good news as mantaquilla just posted - we have a few trading days left before BOD will start stock buy-back. July can get very exciting.
$1 -? Nothing wrong for them to stop and make it a base again, I'll go for that for now.
Doesn't management think the SP should be worth more than that?
Yeah, but they probably don't want to break the bank chasing the shares into the stratosphere. Hypothetically, the minimum SP is whatever the maximum buy-back price is - set it too high and they'll end up bankrupting us trying to honor the obligations of the buyback. Also, PTQ gets to keep cash in the bank if the SP goes higher than $1.
We'll get to $1+ in due time. Until then, I'm happy with a floor ... even if they only did it to please the PP participants. Their greed is our insurance policy, as evidenced by this buy-back proposal.
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