Post by
lovehockey on Nov 23, 2023 12:34pm
SP was just a clever way to delay buyback
They couldn't afford to start NCIB earlier because they had $14 million debt. So they came up with this clever idea to buy time. They know the stock price is under a tremendous pressure but they were not in a position to file for NCIB in September so they just bought themselves 3-4 months starting September 27, the date of the announcement. What they will try to do is to attempt to reduce the debt or eliminate it in the next several months and then the buyback will come. It is inevitable. In the meantime the stock will still be under pressure - buy at bid with your divis or buy with cash you have. Anywhere below 90 cents is an unbelievable deal.
Comment by
lovehockey on Feb 06, 2024 9:59am
Predicted all of this in November