If all you are hung up on is wording, perhaps you forgot this wording from the January letter from the BOD

"The Company is currently unable to repurchase Patriot shares in the market at this time due to the same blackout period that currently prevents insiders from stock transactions, but we previously engaged in a share buy-back program until the last quarter of 2007. Both the buy-back and dividends were significant because, to our knowledge, no other bulletin board companies have ever taken such actions. "