RE:RE:Buyback If we have roughly 30 million NAV
Roger takes $1,000,000 in what I can almost guarantee is a profitable quarter and does a circular bid with a limit of $0.15 then QCA would be able to cancel out 6,666,666 shares.
Roughly 105 million shares out standing currently.
As of now: $30,000,000/105,000,000 shares= $0.2857/share
If a circular bid was completed at $0.15:
105,000,000 shares- 6,666,666 million shares=98,333,334 shares
$29,000,000/98,333,334= $0.2949 New NAV/share
Roughly a 3% guaranteed increase in NAV
These numbers are rough estimates off the top of my head and obviously Roger has been executing buybacks at much more efficient rates then $0.15 as of late. I myself would be fine seeing buyback programs because it's a great way to add some value to share price with excess cash in turmoil investment times. I really think that with Rogers age and compounded wisdom that he can run investments reasonably safely theoughout all market types because of his experience, education and patience.