OTCQB:RYMDF - Post by User
Comment by
VerusSemperSorson Jun 27, 2021 4:41pm
99 Views
Post# 33457895
RE:RE:RE:NEWS!
RE:RE:RE:NEWS!No doubt 24 million would have been better, but would it make sense to spend that much cash? They raised $3 million if February from the exercise of warrants & options. 12 million shares bought back at $0.25 or a bit less would just about use that up.
That would leave the proceeds of the January PP untouched by the share buy back. It wouldn't make much sense to do a PP just to end up buying back shares with the proceeds. I'm thinking that buying back more than 12 million shares would have been very hard to justify with the cash available to them.
Maybe 12 million max buy back plus some insider buying will be enough to get us moving up again?
goldens wrote: Its only 12 million shares max. 240 million outstanding. 5%. 24 million would have been better.It does also say "maximum" in the news release so it doesn't mean they will even purchase a single share. They need to get the pilot done and get into more airports or get more clients and find other applications of the tech.