$8M buyback leaves no cash in the kitty to pay expenses........I doubt that a prudent management team will spend more than $1-3M on the buyback. Any more and OVH is unlikely to pass due diligence scrutiny by new clients with AFSLs who need to satisfy themselves of the "ongoing concern" nature of the balance sheet.
"Caught between a rock and a hard place" or "hoist on their own petard" would be an useful summation - depending on one's bias.
Time to go to the capital markets for a share placement .........if they haven't already done so.........
OVH Price at posting:
28.5¢ Sentiment: None Disclosure: Not Held
