serious answer to what I assume was a serious question. As we are all taught early on, cash is king. Receivables should translate but there is always a risk. On the flip side, provisions were up, insurance was underpaid and is now financed (first I’ve ever heard of that occurring) that weighs on cash flows going forwards, related party loan is now a current item so also due soon. I’m not here to slam the company but why they would conduct a buyback with this balance sheet, in this economic environment with risks everywhere is beyond me, personally I think it’s massively irresponsible. Also running a buyback at 80% of daily vol is outright madness. I can’t think of a decent company that could get that through any governance screen.
I hope they succeed but I think they are making dubious decisions.
MSG Price at posting:
1.3¢ Sentiment: None Disclosure: Not Held
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