John
On the previous buy back just recently ended, the daily shares bought were almost always under 10K... while I do not think the buy back is intended to force the price up, increasing the cost to WiLan for any future buys, I am sure it is on the other hand a force in maintaining a floor to our price. Think of the repercussions of buying at the max volume allowed when the regular volumes are so low, it would artificially march the price upwards, IMO.
As for buying during the blackout, the share buyback is handled by a third party under specific guidance documented prior to the start of the buy back and is therefore not subject to the blackout, as it is "hands off" once initiated...
Regards
Bob
