It's both, actually, although I'm not sure why anyone would decide to buy during the ITO and then also change their mind during the ITO. The buy-back aspect of it will be after the ITO period so that people don't have to feel locked in. This is especially a factor with our project because we're following SEC guidelines which say that AyaCoin tokens will be considered "restricted securities" for the first 12 months after they're purchased, so there are only very limited circumstances where they would 'allow' the tokens to be sold to anyone but us.

Yep, absolutely. The only caveat is that we need to ensure that the other tokenholders still get an adequate amount of profit shares, so buy-backs are limited to no more than 10% of the total value of outstanding tokens per period. So, if a person owned 20% of all outstanding tokens, and they wanted bought out, the idea is that they would get 10% during the next profit-sharing period (1-3 months), and the remaining 10% during the following profit-sharing period.