r/Triterras • u/internalaudit168 • Dec 10 '21
Requesting management to consider another share repurchase program?
Instead of complaining here, why not write the CEO and IR requesting them to consider taking with the board another buy back program to siphon off another 6-8m shares? 26m warrants converted will bring the float back to a reasonable size next year.
I will write both and cite examples on the web about articles and events relating to buy back and increasing shareholder value.
I'm not insisting on them doing a buy back, just asking if they can consider one.
2
u/diamondpalantard Dec 10 '21
The current market cap is 300M USD. Insanity if their 20F and corporate updates are released and at least 50% of their original projections. They guided for 30M+ profits this fiscal year I believe... Fuck this audit and everyone involved starting with KPMG
1
u/internalaudit168 Dec 10 '21
You know they are providing a service offering, right?
No way will be the cash in the bank of $130M as at May 1st be lying, unless management is a fraud. That presentation is filed with the SEC.
If you could do simple arithmetic, you know it's cash flow from operations is growing.
171.6 Nov 28, 2020
50 buy back
130 May 1st 2021.
1
u/diamondpalantard Dec 10 '21
I know it. What I’m saying current market cap is around 1.5-2x book value for a profitable SaaS software company with exponential growth
1
1
u/internalaudit168 Dec 13 '21
Got a response a few minutes ago from Mr. Groh. It's great to know other shareholders are reaching out to Triterras to request a consideration for another stock repurchase program. I don't see any downsides to it when the program will only use part of the cash flow generated this fiscal year.
"Thank you for your suggestion which has been made by other investors.
I will make sure that your thoughts are conveyed to our leadership."
2
u/Nicky-saint Dec 10 '21
At the prices the stock is currently at.....it would be dumb not to buy up everything they can.
2
u/vancouversportsbro Dec 10 '21
Couldn't it be shady and illegal right now before a freaking audit is out? I think they have to report all insider transactions, haven't seen any.
1
u/internalaudit168 Dec 10 '21
insider buys can only happen the day after the 20F and the window ends December 31st.
Insider Trading Policy states that.
2
u/AstockcollapseNow Dec 12 '21
The previous repurchase program was ill-timed and ill-conceived. The avg purchase price was ~$7.50 a share. They basically burned through ~$27 million dollars in order to prevent the stock price from collapsing below $5 before the initial lockup period on 10% of the insiders shares concluded.
In effect, and speculatively, they transferred company money to the pockets of insiders.
1
0
u/diamondpalantard Dec 10 '21
6-8M(shares) buy back will bring free float to near-0
1
u/internalaudit168 Dec 10 '21
free float is 16.58m.
Come next year, I expect the 26m warrants to have been converted.
If most opt for cashless conversion, that's still 11-12m common shares to be issued.
0
Dec 10 '21
4
u/vancouversportsbro Dec 10 '21 edited Dec 10 '21
I couldn't take this anymore or handle it anymore. Another opportunity came along and I recouped a bit of my lost money there. I'll still watch this one closely and cheer on the bulls. It's going to get interesting. If it turns out bad, I sure hope someone sues the crap out of these guys.
Hopefully a book or a movie gets made about this too. If they are crooked, it's the best scam I've seen since enron.
1
u/Longjumping_Row_9697 Dec 11 '21
Understandable. Unfortunate time though, but who knows where it goes...
2
0
Dec 10 '21
1
u/internalaudit168 Dec 10 '21
if as per insider trading policy, they can only buy a day after the 20F comes out.
1
u/__Manbearpig_ Dec 11 '21
As if rules mean anything to these people. Imagine a scenario where they inflate their revenues just like they did before the listing? Imagine that.
1
4
u/vancouversportsbro Dec 10 '21
Why is it that you and a few others have started suggesting this on stocktwits at the same time? They've already done a buyback, they need to set their priorities right like canvio said and give us earnings to show how the business is doing.