Just made a call to Management...Tom is heading out of Country again. They said to me without my asking that their stock is being beaten up and that they continue to buy on the public market...(Are they buying to try to keep the momentum/trying to keep the stock from going further down...I'm puzzled and trust no one) I also questioned about how can they continue to buy shares on the public market if the company is for sale...He said that every company is for sale and until their is a concrete buyer for the company they are entitled to buy shares. So to answer your question Blinbat_1 this clearly tells me that there is no blackout period at this present moment and clearly no deal in the cooker. Management said they are working hard to put out news. I can understand if there was an unsolicited expression of interest but this was never indication that their is a buyer simply possibility of a buyer...so clearly all this time and up to this point I will repeat what was said in the call...they are entitled to buy shares on the public market because they have no concrete offer....because if there was a legal offer…there would be a blackout period. So my question is...what will be the news released...if it is not a buyer…or maybe they are trying to nail a deal…and until then they continue to buy…none the less at this point if we do not get positive news soon this stock will hit new lows…
Thxs for sharing, obviously the recent Email I got suggesting they were in a blackout period (of some sort I now have to assume) requires further clarification -as it was stated as one of the reason it took so long for the Convertible debt to close.
Speaking of, I thought our Chairman was putting up the remaining and missing $600 K in that convertible debt......no news on that yet either.
No doubt we will get spank as people are losing patience and Tax loss season is entering Cleaning Galore fiesta!
The real challenge and test for the diehard, is what does one do ? - Join the Cleaning crew or step back, watch them clean the portfolio and pick up the cheapies in hope of a good return in 2013????
Thxs AnikResources, your sharing is much appreciated.