Zagg had the same language prior to redoing its credit facility which then permitted it. Skul has more cash than zagg when one considers Zagg has cash because of its long term debt. Not suggesting Skul go nuts borrowing money to purchase stock, but taking steps to make it a possibility is positive. Not uncommon for companies with debt to repurchase stock.
Smart move by ZAGG and something SKUL can learn from indeed. SKUL management needs to do a better job of attracting longer term investors and a stock buy back program would be one of them. Providing even a small dividend would also help. Stop selling shares at the worst times and start buying them when the stock appears undervalued would also help. There are so many things they can do. So either they are ignoring their shareholders, oblivious to the problem of the price decline, or don't have confidence this growth story can continue and are banking their bucks while they can. The last one is of course the most concerning possibility.