NCIB, Buybacks While Working Capital Is Tight?
Why do a NCIB, and buy back your own shares?
Especiallynwhen that flushing sound is stock dilution, ongoing losses, failure to ever get profitability, and cash burn and a runway that gets shorter and shorter? WHY????
In the companies words….
“The Company's Board of Directors believes that the market price of the Company's common shares may from time to time not reflect the underlying value of the Company, specifically its growth opportunities, and that the proposed purchasing of its common shares is in the best interests of the Company and represents an appropriate use of corporate funds. It is expected that any purchases made by the Company could also enhance value and liquidity for its shareholders.”
The last sentence is critical. “enhance value and liquidity.”
Hey would that help if insiders are selling ? Other than promoters here , who is buying this stock???
The suggestion of a buyback can also encourage retail to buy IMO
YET…
“Of note, the NCIB announced above is further to a previous NCIB that the Company had implemented. Under the previous NCIB, which had started on February 15, 2022, and ended on February 14, 2023, up to 7,500,000 common shares were approved for purchase. No purchases were made under the previous NCIB as management ultimately took the view that it was more appropriate to allocate corporate funds to other company priorities.”
Yeah like actually running the business and needed funds to do this rather than worry about the scoreboard , Yet they need financings to survive, as they run deficits, losses, with NO HISTORY OF PROFITS EVER
PyroGenesis Announces the Implementation of a NCIB | PyroGenesis Canada Inc
All imo
FWIW
Not to buy or sell based on what I or anyone here says
Heck it’s all for laughs, amd education
Not a lot of laughs for longs down over 90%, while lawsuits fester, no history of profitability-ever - and just promises, promises…