Long term holders should be rightly questioning the buy back.
It's evidently so far doing nothing to improve the share price.
What it is doing though, is buying back a material percentage of the company - with company funds, ie: shareholders money- then giving it to insiders and employees.
Almost $2m of equity, with performance hurdles etc all decided by management.
Basically 10% of the company, transferred ownership to insiders just when things are apparently starting to look positive. How handy!
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