In April, 2013, co. authorized a $2M stock repurchase. Yet I've seen nothing to indicate that this was implemented; and had no response in this regard from the co. It would seem to be a no-brainer considering that the cash / share is close to the current share price; and that the book value is over $7 /share. This confirms management's lack of interest in its' shareholders. Does anyone have any info on the repurchase ?
The company announced share purchase program in april when the share price went down to 91 cents. They may have done this to keep the share price above $1 to reduce the risk of delisting. In the next quarter results, an analyst questioned how much shares they re-purchased, they said the the share price has not met their price criteria. Basically they purchased 0.