Cliff Flowers, CFO returned call (share buyback)

Cliff Flowers did call me back this morning and I thank him for doing so. I felt that he wanted to be as helpful as he could. This is my attempt to state what he told me and I may or may not have it correct. That’s a disclaimer for Cliff and myself.

He would not give me a direct answer as to whether stock buybacks were taking place. He kept mentioning the SEC rules and the fact that he would not comment directly on how they had interpreted the rules. I mentioned the PR released stating that company officers could not buy back shares. He commented that the PR content was wording was too general.

I mentioned the recent past share price levels and the fact that I felt the company had to be tempted to start the buybacks again. He basically seemed to agree that given the SP it was debatable whether the shareholders are best served with buybacks or not.

I type this as fast as I could I’m in for a short moment and I have to go out again. So it contains many errors I’m sure. The jest of it is this, I don’t know if they are buying shares or not. I said that I would post Cliff’s reply if he did call me back. I’m sorry that I wasn’t able to get a definite answer. He didn’t rush me off the line but I ended the call quickly when I was convinced the he felt he couldn’t answer my questions directly. I’ll read the I told you so posts when I get back in later. LOL

GLTYA