RE: Revenue end of year and share buyback It could be useful it stopping downward SP movements when there is no apparent underlying macro or micro economic reason i..e shorters. Just having it there is frequently a sufficient deterent. Other than for that purpose I believe our company both in the short and long term will require cash to fund the HPA and SPA and having some in reserve won't hurt. The last thing I'm sure any of us want is more dilution and one day there maybe dividends. Oops there will be dividends of course and lots of big ones...lol
I have copied below the buy back terms from another tsx.v company. Wonder if any of you can work out which one? Hope you all find this useful and informative.
Normal Course Issuer Bids:
On August 4, 2010 the Corporation disclosed its intention to make a normal course issuer bid (the “2010 NCIB”) for up to 1,009,345 of its common shares, representing approximately 10% of the Company’s public float. The 2010 NCIB commenced on August 7, 2010 and will continue until the earlier of August 6, 2011 and the date by which the Corporation has acquired the maximum 1,009,345 common shares which may be purchased under the 2010 NCIB. The 2010 NCIB will be made through the facilities of the TSXV and the purchase and payment for the securities will be made in accordance with TSXV requirements at the market price of the common shares at the time of acquisition. In the period of August 7, 2010 to June 30, 2011 the Company purchased 162,900 common shares under this program as a cost of $324,622 (on average, $1.99 per share). In the first quarter of 2011, the Corporation purchased 42,700 common shares under this program at a cost of $114,860 (on average, $2.69 per share). All -common shares purchased by the Corporation under the 2010 NCIB have been cancelled. The NCIB expired on August 6, 2011. On August 30, 2011 the Corporation disclosed its intention to make a normal course issuer bid (the “2011 NCIB”) for up to 1,551,334 of its common shares, representing approximately 10% of the Company’s public float. The 2011 NCIB commenced on September 1, 2011 and will continue until the earlier of August 31, 2012 and the date by which the Corporation has acquired the maximum 1,551,334 common shares which may be purchased under the 2011 NCIB. The 2011 NCIB will be made through the facilities of the TSXV and the purchase price and payment for the securities will be made in accordance with TSXV requirements at the market price of the common shares at the time of acquisition. In the period of September 1, 2011 to September 30, 2011 the Company purchased 6,200 commons shares under the program at a cost of $20,290 (on average $3.27 per share). All common shares purchased by the Corporation under the 2011 NCIB will be cancelled.