I don't buy into the suggestion that "certain powers are wanting the price per share to drop? So the initial buyback would get more lower priced shares." This is standard penny stock canard and a wives' tale to distract from reality that this share price is quite high given current financial and operating facts of BGMO and prospects in the future.
As a reminder, it will be a serious breach of Board fiduciary duty and breach of Delaware corporate law to distribute money to shareholders through a buyback while BGMO is in monetary default to its creditors (I wonder how the respective judges in the open cases in Illinois and NY will react to BGMO paying money to equity holders while stiff arming the plaintiff creditors and even BGMO's own lawyers). Second, BGMO has been issuing shares (over 60 mm in past two years) with abandon. Third, Hilly had no problem dumping millions of shares through ICG last year which drove the stock price down. Fourth, any cash would be better used to build an operation rather than small payoffs to shareholders and small reduction in shares outstanding to remaining stuckholders.
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