The share buy back is a horrible idea. As was mentioned...

The share buy back is a horrible idea. As was mentioned previously the only thing holding this SP up, even at the pathetic current levels, is the cash backing. The cash in the bank is the final pilar holding this joke of a stock from complete collapse. Getting rid of that cash is suicidal. This company is still not turning a profit!
And even with the slight bump in SP from the buyback who is going to actually buy those shares knowing full well it will drop soon after? People forget that regardless of what a share price is you still need a buyer to want to buy them for that price.

I can see it now. Yowie buyback takes place. Share price bumps up to 30c but company now no longer has cash on hand. Share holders all try to jump ship as they realise this could be their last chance. Millions of shares come up for sale. No buyers. Share price plunges and with no solid cash backing this time keeps dropping. Everyone is f***ed. Management ask for more reward shares because they are doing such a great job.

The scariest part is that this is so obvious to HC members yet the management in charge of this company who should know a lot more than we do can't see it.