buying back shares aS long as she stays below 6 bucks a share.
Imagine, they will have close to 3 bucks a share as of June Quarter end. They will make another 30 million for the balance of 2011. If the SP stays below or around 4.50 a share they buy back another 7 million shs aproximately.
Chop is in the drivers seat because of the warrant exercise and the fact theY throw off so much cash.
Reality was that management did not expect the heavy exercise of the warrants.
frankray- Why would the company have been taken by surprise with all of the warrants having been converted since the stock always traded above the strike price prior to the expiration date? There were a few left on the table, an insignificant number. The upside to this though is that the company is taking advantage by buying back, sub five. I hope to heck that they are buying back as agressively as allowed since they certainly have more than enough cash on hand. We'll all know on Monday when they conduct the conference call.