My theory is that he recently (following the last BOD) decided to do what I "imagine".
He issued a PR saying I intend to buyback shares,
He did not release anything new since Dec 19th (even his typical release claiming success following a business show),
I expect a release to be soon release saying that something not as good as usual is going on,
...
I somehow beleive (what do I know) that the last BOD (whoever was there) saw the major shareholders of the company develop a plan to resolve the issues causing the company not to be able to report normally, therefore having no possibility to come out of the pinksheet market.
Acquisition, merger, privatization most likely became the way out in their mind and I "imagine" that we (small shareholders)now are being bought.
Assuming the results to be good (not necessarely as good as claimed), assuming cash is available and assuming there are effectively less than 10,000,000 shares out there (I do not know what the options do to my theory), buying back as many as 50% (maximum) of the shares still in the hands of small shareholders would mean 5 or 7 million dollars (worst case) even at current PPS or a little more.
Let's see what we will see between now and March 30th (when the dividend will have been paid).
In any case, whatever Matin release, anyone having been around for some time knows that we know nothing and the advanced theory is as good or as bad as any.
The only almost sure facts we know is that somehow the large shareholders must find a way to cash in one of these days, Matin cannot produce an acceptable audit of the financials, the stock cannot be listed on another market.
We can also think that the company is somewhat profitable, is generating cash and doesn't have to issue additional shares anymore.
We finally can beleive that Matin needs financing (institutional) to proceed with additional acquisitions and merging activities and he should have a real hardtime getting access to these funds without normalization.
I suspect that he cannot normalize AS A PUBLICLY HELD COMPANY having done something bad enough when he had trouble a few years ago (the failures of his 2002 synergy plan) not to be able to admit it openly and not be in real trouble with SEC or other watch dogs out there.
Making the company private with few informed partners would let him go around this and that's why I beleive that this COULD BE his plan.
Who knows ???
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