we've just experienced the co waste millions artificially propping up the SP, because the day after it ended, SP fell off a cliff, from 12.5¢ to 7.5¢ in less than a month:
extending the buy back & dramatically increasing its size looks desperate, & is like putting lipstick on a pig, because it would be better to encourage current & new investors to buy shares, using external money, letting market forces determine the correct SP:
then the co's limited cash reserves could be used to grow output organically, or for another acquisition, or for a rainy day given the current tumultuous times, instead of buying back shares, which is the laziest option. boneheaded, actually:
if the CEO honestly thinks SP is cheap, he should throw all of his own money into buying shares, along with the other directors.
unfortunately less & less to like here. multiple things aren't adding up
note: i don't personally hold shares but my family does, i recommended ICI to them
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Ann: Seeking Approval for Share Buy-Back of up to 135m shares, page-32
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Last
2.7¢ |
Change
0.004(14.9%) |
Mkt cap ! $34.57M |
Open | High | Low | Value | Volume |
2.4¢ | 2.7¢ | 2.4¢ | $11.25K | 457.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 105416 | 2.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.7¢ | 289959 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 105416 | 0.024 |
3 | 410927 | 0.022 |
6 | 741190 | 0.021 |
6 | 1427350 | 0.020 |
1 | 150000 | 0.019 |
Price($) | Vol. | No. |
---|---|---|
0.027 | 289959 | 2 |
0.029 | 134447 | 2 |
0.030 | 462617 | 3 |
0.033 | 40000 | 1 |
0.034 | 416625 | 1 |
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