There's no reason to do a R/S when the share price

There's no reason to do a R/S when the share price is at $1.00+....odds are, they'll retire shares when they have some profits sitting in the bank, but you're correct that it's a little too soon to think about that now. Retiring the shares also gives them the benefit of not only driving the price up as a result of there being fewer shares, but the announcement of a buyback would itself cause a buying frenzy.