While this is not the announcement that we are in the TH for...I think it is extremely poor of the EUR BOD to make this move. Instead of returning shareholders cash that EUR have loaned to Cyclone we get some stock at 0.002 in a defunct company. This is absolutely appalling, $2.2M is one third of the current buy-back, it is not a insignificant amount.
Cyclone should have released the EUR shares it currently holds to the amount of the debt, not EUR getting shares in a nearly bankrupt company. What a effing scam.
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