MethodThere is not much method to the madness here. ELF is not going to access tha capital markets and raise capital at these current prices. The public market listing is a liability, not an asset. It does cost $$ to stay public year in and year out.
The accreation to NAV is very very small IF you are already controlling 70-80-90 percent of the float thru friends and family, and the buybacks are only 1% of the float in any one year. I can do the math, if you buyback 1% of the floar at 50% of NAV in any year , you have added exactly .05% accreation, per year, to the NAV.
It's public just as a Canadian Joke really. Like that movie Canadian Bacon. A quaint joke.