OTCPK:MEAOD - Post by User
Comment by
tomgraniteon Sep 17, 2015 4:42am
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Post# 24111315
RE:RE:RE:Perception...
RE:RE:RE:Perception...
A company buys back it's own stock when it has no better use for the cash. Metanor is not in that position. If they spend $2mil buying back their own shares they won't be getting them for 4.5 or 5c, the SP will increase above that. They will therefore have issued shares and a free warrant at 5c a few months ago and will then be buying the shares back at above 5c - crazy. Once they stop buying, the SP will fall back down and they will have to do another raise because they are not generating profits. Get rid of debt and increase reserves is their priority.