Stock does look cheapish, but surely this raises a few questions...

Stock does look cheapish, but surely this raises a few questions ... They raised $75m at $1.33 3mths ago for "acquisitions". They now announce a ~$30m buyback at ~82c.
1. Does this mean there are no acquisitions forthcoming?
2. Is this simply a classic desperate board measure to underwrite the share price for a while, and they actually have no intention of pulling the buyback trigger?
3. Was the last raise extremely opportunistic ie shareholders are screwed and the only winners were the investment banks collecting their fees?

Also an interesting read in the attached link ... not sure the tourism issues between China and Vietnam are going to be resolved quickly.
https://au.finance.yahoo.com/news/chinese-tourists-abandon-vietnam-012206272.html