buyback did not last long

What was the point of that. It gave a chance for some of the largest 20 shareholders to get out. If the company wanted to create value then they should have purchased the shares at a lower price! Silly stuff really. You would expect the buyback to have lasted a few more months as the bid of 8.0 cents was 17.5% higher than the bid before it which is currently at 6.8 cents.
Given the current finacial crisis the company is being valued on the 14m it has in cash as there is no certainty of the 3m promised over a number of instalments over 2 years.
Then that begs the question of the directors and if they spend that money wisely. Cash rich company's such as BTV usually trade at a 20-25% discount to there cash backing. Therefore BTV almost seem fairly valued at around 9-10 cents at the moment.....