Another $70k spent yesterday propping up the share price. I...

Another $70k spent yesterday propping up the share price. I don't understand how people think this is acceptable?

Surely there are better ways to deploy capital than trying to cover up the shortcomings of management and their failing strategy?

Some ideas:

1. Preserve cash given we're entering a difficult global economic climate
2. Invest in sales and marketing activities
3. Invest in product development
4. Invest in product diversification
5. Seek potential M&A targets using cash and scrip

The above can all add value to a company. The current strategy is simply eroding cash reserves and masking the real state of the business.

DYOR. IMHO.