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Message: Why buy back 5% of company shares

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Why buy back 5% of company shares

posted on Dec 08, 06 03:37PM
Why in the world would Portrush which is a non-profitable company use its revenue to buy back up to 5% of its stock shares? Portrush has stated: The source of funds to drill and expand the assets of PRRPF come from oil and gas revenue and private placements of money investments with the company for stock, stock options and stock warrants. Is Portrush gathering stock for a private placement? Is Portrush gathering stock so the stock price will rise and the already granted options and warrants can be exercised instead of expire worthless? Can shareholders have a company management prediction when Portrush will or may become profitable? Has Portrush been established for management and consultants to make a living off its oil and gas production? Is Portrush still debt free? Please answer each question individually, all SIX of them please. Thank You - Quincy

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