Regarding share buy-backs; here is one of those times, more frequent than many would suspect, where Ron and I are in agreement.

As I posted the other day, I believe the limitations on company buy-backs are:

Not more than 10% of the float in a single trading day (no issues there)

Not more than 25% of the volume of the preceeding trading day (though here I'm not absolutely sure, i.e., could be not more than the average daily volume over the previous 10 trading days, or other such time frame). In any case, with company buying, that average will increase, thus increase the amount that could be bought daily over time.

The company must announce its intent in advance (done at AMS, and prior).

Not to belabor, consistency in this action would be helpful, as Ron suggests, until some predetermine PPS threshold is reached or until prudent management of available funds dictates. With the volume limitation, a consistent approach could be maintained for a long period of time (e.g., initially, at recent volume, the limit would be some 75,000 shares a day, or just a little over $10K cost). Not a lot, but anything would be good. I actually suspect, based on flurries of buys at the ask, that the company is already engaged in this action.

The limitations do prevent the buying of "bazillions of shares" in the short term, which is probably a good thing. Slow consistent buying should slowly increase the PPS, AND SUSTAIN that increase, ignoring all other factors (news). And if, at some point down stream, the company needs to raise cash, they could announce their intent to sell, and sell off shares (at a PPS higher than paid).

FWIW,

SGE