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RDX Technologies Corporation Message Board

  • chimakot chimakot Sep 2, 2013 10:38 AM Flag

    Stock buyback to commence soon.

    To reduce the recent dilution Dennis stated during the business update that they would start a stock buyback very soon. I'll be very curious as to how large the buyback will be. IMO, Dennis wants to get the stock price back up/reduce the # of outstanding shares, and what better way to do it.

    Sentiment: Strong Buy

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    • Good call chimakot. I just received the e-mail update. "... a stock buyback plan that will commence as soon as an approved brokerage account can be established." This is fabulous news! The RDX team appears to have a solid long term plan of both growth and of supporting shareholder value. Looking for a good day tomorrow.

      Sentiment: Buy

    • Guess you were right Chim. I picked up a few today on the pull back.

      • 2 Replies to cuziggai
      • RDX announces that subject to the rules of the TSXV, a stock buyback plan that will commence as soon as an approved brokerage account can be established. The stock buyback plan will run through August of 2014, but the stated shares can be purchased beginning when the approved brokerage account is established.

        Sentiment: Strong Buy

      • Thanks, cuziggai, and good for sounds like the buyback will start as soon as the account is opened....I really think Dennis is a winner, and he'll take us to the finish line....for me, that's retirement. LOL

        Dennis M Danzik, RDX CEO stated, “This is one of the steps that the Company will be taking to clean up our capital structure over the next twelve months. By reducing the number of outstanding shares, we believe we are creating more flexibility as a Company and anticipate steadily increasing our shareholder value. Another foundational step in a long term process to build a value based organization

        Sentiment: Strong Buy

    • Dennis said the stock buyback program was currently before the BOD and that it should be "perfected and announced shortly".......sounds soon to me.

      Sentiment: Strong Buy

    • I'm a little confused by this. I listened to the CC today at our new website. We are hunting for more cash, so why a buy back at the same time? Sounds like we have about $4.5M cash, which could return a maximum of about 10%, which would be a pretty good chunk.

      • 1 Reply to bbqdays
      • I just went to the new website to listen to the replay and was greeted with "Launches Tomorrow." Was it up and running earlier and is down now? Seems like the new website is not in sync with the previous news release.

        A stock buyback is a really stupid concept for a balance sheet this immature and fragile IMO. I suspect Danzik is pumping what might be possible down the road or I hope this is what it is for the sake of his managerial credibility.

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