I think we need to keep in mind that Joe is not getting a salary from GNBT. He is living on his savings, so until GNBT is able to compensate him, he may not have the funds, nor want to tie them up so he has his living liquidity.
Also, I agree with Homer, right now they would not be allowed to purchase arbitrarily in the open market. They would need to set up a monthly/quarterly systematic purchase program.
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Disclaimer: Of course, all of this is my opinion and you should not make any investment decisions based on my opinion. I have not received any non-public information.