re: Ann: Quarterly Activities and Cashflow Re... Confederate Capital bought the EMR shares for 1.3c and still hold giving them control. Buy back being conducted by Emerald under control of the new directors from Confederate, no doubt about that. With Emr buying back their own shares, the shares bought back are extinguished and reduce total shares on issue by 10% from 943,651,307 to 849,286,177. Look for the sale of EOX shares to finance it.
Say they buy back at 1c average, then it costs $944,000 approx. Will remaining shares rise in value by 10%? Then Confederate make 10% on their investment.
Ann: Quarterly Activities and Cashflow Reports , page-3
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