This is what was said on November 9:
"While the process to solicit strategic investors is in its early stages, Hyduke is pleased to report that there are currently a number of parties who have entered into confidentiality agreements, are reviewing information and assessing the opportunity. The interested parties range from larger strategic companies in the oil and gas industry to financial investors."
I didn't read about any party looking at them in this latest announcement and there was no mention of a share buy-back only 14 days ago. So what has changed? Are they trying to get leverage through a share buy-back program to get better offers from these parties?
Just so everyone understand, a normal course issuer bid or share buy-back on the TSX needs to be a maximum of 25% of daily traded shares. If Do All walks away, the trading volume will go back to 10,000 shares a day. It will take years just to buy back 5% of outstanding shares. This will create no value at all other than maybe, moving the share price up a bit. Earnings are still lacking here and that is the issue, not Do All.