This is a company that had no earnings last financial year and has a modest amount of cash in the bank.
So now they choose to spend capital on buying back stock.
The same decision is a decision to have less working capital available to acquire new businesses and expand existing businesses.
The next thing we know in 12 months time they will announce a new acquisition underwritten with a share issue.
So they are treading a fine line with me right now.
As they say (quoting Peter Lynch).... earnings, earnings, earnings.
Gosouth
Ann: Notification of buy-back - AFL, page-6
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Last
13.0¢ |
Change
-0.005(3.70%) |
Mkt cap ! $12.78M | |||
| Open | High | Low | Value | Volume |
| 14.0¢ | 14.0¢ | 13.0¢ | $5.107K | 37.19K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 69458 | 13.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 13.5¢ | 20546 | 1 |
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| Last trade - 12.42pm 15/11/2024 (20 minute delay) ? |
| AFL (ASX) Chart |