I believe the directors are inept, etc, etc, said so many times...

I believe the directors are inept, etc, etc, said so many times before. But, I do not believe they are stupid. If the company is not on solid footing, or looks like going belly up, and they know, then that must be reported to the market. As for using the buyback to get some $$$, well its not many $$$ to them. No, I think they are just as concerned with the SP, but have got themselves into a corner, and are trying to get out.

With the SP this low the company is becoming, (depending on the EOY report), pronr to takeover. If an offer is made the company is obligagted to tell all shareholders, and if the offer is a good then they are in a difficult position. Again, if the offer is a private offering it must be fair and reasonable for it to be comsidered. If it isn't then questions will be asked by regulators.

Yes I bag the gang of 4 for the mess they have got PEO into, a mess that they could have avoided if they stopped believing they were Gods gift to TELCOS, but I do not believe they are unintelligent.