The company or CEO isn't going to be buying back shares, especially since they didn't use the opportunity to do so wayyyyy down lower. Their claim to a $2 million share buyback is total B.S., no different than what many other China small-caps have done. This is one short position I'd be totally comfortable in if I had been able to short the number of shares I wanted to.
On a side note, made out nicely on my LOCM shares today. Sold half at $2.82 and looking to buy them back at some point.
We've seen alot of China small-cap CEO's buy back their stock, but only token purchases, probably financed by those that want to dump. Heck, even the total fraud SCEI bought back shares to make people think they're legit. AMCF's latest officer buyback of 9K shares below $2.00 is hardly enough to convince anyone to take the company seriously.