my loyal contact told me, page-22

Andrew,

No it smacks of insider trading - wrong wrong wrong.

It doesn't reflect well on the company either or the broker, probably pattersons since they are ones who handle CFE's business.

The average share buyback price was in the high 50's (see final share buyback notice and divide the money spent by the number of shares acquired)so it was important tony made sure he didn't issue shares at a price lower then he bought them back for.

all the same however as its academic - he has paid 40 million by issuing 67 million shares at 60 cents - or he could have paid 46 million by issuing 67 millon shares at 70 cents or on the other hand, CFE can pay 34 million by issuing 67 million at 50 cents.

Whats important is the number of shares issued - the purchase price can be anything the company wants it to be as no cash is exchanged in regards to the share issue.

What will be more interesting is who ends up on the share register holding 10% of the company stock.