I believe the buyback in reference to the preferre

I believe the buyback in reference to the preferreds is that Gnbt has the right to buy back the preferred‘s in five years at their nominal value of $33 per share. So if business plans takeoff and GNBT now has all the funding they need and money in the bank, they can buy back the preferred‘s instead of paying the 13% dividend each year on that money. It better not have anything to do with buying back common shares because that would be crazy. We need the funding to help move along all the other initiatives and companies that were bought with the $2.50 stock instead.

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.