I did comment on it and I said it defied logic. And it still does. 250k sounds like a lot (well, no, it doesn't)... Further - importantly - the exact phrase "up to 250k" translates to "less than 250k" when I run it though CEO-speak translator. "Up to" is pretty soft language and should be taken exactly for that - soft language. "No less than" would have been a nicer phrase to have seen.
Then there's this... a buyback itself sounds great at first take. However, they're history is paying bills with shares (going from 5 million to 105+ million shares). To turn around and buy back up to buy shares is swimming up a river - a river they fully support as their track record shows.
So looking harder at the numbers, we're talking about between 2.5 and 8.3 Million shares (at between 3 and 10 cents). OK. That's less than 10% of the dilution we know has happened in the last year, and supposedly there's another 100M+ shares out there set aside (or already handed out) for more bills to be paid. All in all, it sounds like "up to less than 5% of the dilution". That's it.
So even what he said, 250k, doesn't sound impressive anymore. "Up to" 250k doesn't sound impressive. I'm not even sure that as a stock holder I'd rather hear, "hey, we're having trouble paying bills, but we're going to put 250k of the millions we've already made (to pay bills) to not pay bills".
So is 250k a lot? This company is supposed to find (or help find) 60M for a movie (240 times that amount). Either they need this 250k for that (so, bad move), or that money is going to happen in some other way, more dilution, other producers will step in - which is NORMAL for a movie to have more than one producer (so, even neuromancer means little). 250k is chump change for the numbers they should have.
I'm not saying there won't be some pump, and maybe an opportunity to make some money if you play it right. That's what this symbol is.
"Buy low sell high" as someone keeps saying. That only works if you realize where the "high" and "low" are. In 6 months will we think that it's high today?
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