Thanks for your inquiry, and your continued support of ZST Digital. First off, I’d like to note that Richard Rappaport has no current role or connection with ZST Digital. We therefore cannot speak to Mr. Rappaport’s actions. He received his shares during the underwriting process – as documented in SEC filings – and there are not any warrants outstanding aside from those with an exercise price of $10 which were issued as part of the public offering
The Company does in fact have an ongoing share buyback program in effect, the progress of which may be discussed on the Q2 results conference call. Aside from that, ZST is continuing to focus on the execution of its strategy, including the continued expansion of its commercial GPS fleet management products and services segment, and is dedicated to taking the course of action that it feels will ultimately have the most positive effect on shareholder value in the near and long-term. We appreciate your support, and the Company will keep shareholders posted on additional operational and strategic developments in the coming months.
I have nothing current, only heresay... The buyback amount is $801,655 for 24,900 shares purchased at $7.97/share.
ZSTN 8/10 announced that the Board has authorized the company to buy back up to $1 MM worth of ZSTN’s common shares in the open market (at management’s discretion). We believe management is correctly taking advantage of the company’s low share price relative to the earnings outlook. Management’s follow through with this program should provide a certain level of support for the stock price.