RE: All stockKensin, Rui stopped his buyback long before the share price reached $1.50.
When it was below $2.50 we were all urging (screaming) for him to continue his buyback but in his wisdom he stopped the share repurchase plan before that point.
Nothing was ever bought back at those cheap prices.
Even though no cash is involved in the deal, issuing 70 million shares is a big deal where I come from. Dilution = lower share price, especially if the newly incorporated company is a dud.