IFFCO, filed the following Form 4's today showing there recent purchases:
Sept.1 bought 9200 shares at 60 cents
Sept. 2 bought 557,890 shares at 60 cents
Sept.2 bought 193,200 shares at 60 cents
Sept.3 bought 541,000 shares at 60 cents
Sept.4 bought 154,550 shares at 60 cents
IFFCO now is the beneficial owner of 28,399,500 shares
IFFCO sits at 60 cents bid(through marketmaker PERT) and buys everything that they can. They probably bought another half million today.
What does it mean when one of your largest shareholders and the ultimate end user of our phosphate rock buys every share that they can at these ridiculous prices???
IFFCO knows the true value of what we have better than anyone.
Who is selling ? Who cares, when we know who is buying. Probably a fund with a few million shares that needs cash.
The best part of IFFCO buying is that they are VERY long term holders and are committed to this project and our company in a big way. They are reducing the float in this stock by themselves because they are not selling their stock to make a few bucks a share.