it's interesting doing some long term numbers...

lets say you want to go to .03 per quarter or .12 per year. If they buy back 2 million shares at say 2.00-2.50, call it an  average of 2.35 that's 4.7 million dollars. 

Removing 2 million shares from the share structure eliminates $240 per year of payout from div's. so it would take

19 years worth of eliminated payments to equal the cash spent on the shares. Take into consideration that it would also potentially increase the eps on the remaining existing shares...

Is it a good idea? I think it's a great idea at 2.00 or below, since that's a silly price for the stock. At 2.35+ i'm not so sure it's nearly as good. If they expect to see revenue for 10-20 years then yes I'd say it makes sense at this range as you save as much on the div payments over that time as it cost you to buy the shares and you also increase the value for the remaining shares.

Nosleep