I didn't know about any of this, so a couple of things.
- I've asked someone who does know their shit to post how it works with regular IPOs because those running around shouting illegal/insider trading are apparently not quite right. It's also not unusual within Bitcoin to say the least (I'm not saying it's right).
- I'm awaiting a response from Ken BUT I know it would be a very typical thing for him to do & post because he wanted to show that he does have confidence in the company, and he thinks that is how people will see it.
I'm 99.99% certain this wasn't a scammy move. I've been dealing with Ken long enough to know how his mind works and it isn't like this.
The real problem here is the share price, lack of communication, etc etc. This was a match for a lot of dry wood.
Look can you at least clarify, if the company has used company funds to buy back shares
those shares get destroyed thus increasing the ratio/value of all outstanding shares (This is what happens in real life, a company doesn't hold its own shares, a share buyback destroys the shares. Apple did this a few times)
No, those shares become a treasury stock - shares that have no rights for dividends, voting etc.
But yes, this actually increases the value of other shareholders but only, if those shares are bought back below book value.
Ken used his own coin and account, separate form Actm a.k.a issuer account. At least in btctm because the number of outstanding shares is the same as before.
no he used active funds & said he will continue on his own account. where are the financial reports? where is the information on the refund & what he is doing with them?