What I would do now execute the buyback and I would do it now when the price is depressed and announce that I am supporting shareholders by taking advantage of such a great opportunity at such an undervalued price.
But, yes everyone is correct. We need to see proof that the company is profitable and a buyback or a cash dividend would have done that.
No company is going to pay 50% of it's earnings in a dividend unless the BOD owns 99% of the stock. I figured a few cents would have done it, but I never expected cash. My bet was on warrants with a strike price near 2.00.
Keep in mind that every release mentions acquisition and growth. If this is your business plan depleting your treasury is not a good business move. Issuing a warrant above your selling price sets the stage for you to increase your war chest by selling stock to your shareholders at higher prices. The advantage to us is that in order for the company to reap that benefit it has to perform. If it fails to execute, the price doen't go up and our warrants expire. We don't get hurt and the company protects it's cash reserve. I like this tool because the company has to do what it says before we reward them. It's a win win or no harm deal the way I have it figured.
Where we go from here IMO is to wait for Matin to demonstrate performance, or walk away if he doesn't.
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