PTW buy back program?Looking at this company and CEX,CDH and others now that the sky has fallen, what sticks out on the charts with this one is a big volume bump that puzzles me? This shows up December last on CNQ.
PTWR and the board announced months ago that it was having a stock buy back program. Well thats great, whether or not that is prudent is not the issue here.
What has puzzled me is:
If management bought hundred of thousands of shares of PTWR stock at prices from 1.00 to 2.00 or whatever over time then I ask:
*Why would PTWR buy hundreds of thousands of shares at a cost of millions of the company dollars at 1.00 to 2.00 and ignore the reverse,
*Why would PTWR then not buy millions of shares at .05 cents when offered in December for a few hundreds of thousands of dollars?
They were aware as the Pres and CFO as insiders reported that bought a few hundred thousands of the .05 cents block.
Was there any restriction on the buy back plan for the company not to take that huge block of shares?
If the insiders bought only a small block of the offered block who then ended up with the rest of them? Mom?
Looking at SEDAR and cannot find a report as to the cost of the PTWR buy back or the list of shares and prices purchased, anyone got it or can show where to find that? Was it one million two or just what, I would like to know?
This a three dollar stock to 13.5 cents, like CEX $3.40 to .06 and CDH at $12.00 to 1,40 shareholders now have a lot more time to pick and poke to see wats up, what's left, what's next?
Perhaps CDH could buy up PTW and PTW then buy up CEX. That would be 13.5 cents plus .06 plus 1.40 then you would have a 1.591/2 cents stock and only need to go to one quote and web site to see what 's the plan? Save a lot of management wages lights and paper. Move the office to the Timberland Motel here in Sussex, good food ,cold beer.
Seriously folks who bought all that stock at.05 cents, did you lads that bought at 3.00 get a tip off call to average down at .05?