It appears Albion increased the SS and announced a buyback. He increased the OS by almost 1000% in 2012, from 175mm to 1.72B. By the first quarter of 2013, he'd increased the outstanding to over 6 Billion, a 3400% increase. If Albion did indeed buy back shares, the 750 million buyback was minuscule in comparison to the over 5,000 million (5 billion) he had been issuing and were outstanding.
During that same 15 month period culminating March 31, 2013, the AS increased from 850 million to 15 Billion.
Albion didn't mention federal regulations stopping the buyback, he simply stated, "shareholder support dried up, and our buyback and float reduction hit a wall, and we just never got moving forward again. The Company has decided the buyback will not be re-engaged."
If they occurred, the buybacks did nothing to increase shareholder equity.
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