If the company can sell the shares back under the

If the company can sell the shares back under the same number, then does it also have to sell the same number of shares as that number is related to on the certificate?  If that is the case, then perhaps that is why most companies retire those shares as it becomes an ordurous task to try to sell in the same share count as the certs may have been issued in.  That is what I just received as information from a SEC certified CPA.  The real question is whether Treaty is in a position to buy back shares.  And the answer is no.  They have too many bills to pay and growing opportunities that will bring in investor value much greater by utilizing their capital to continuning to advance their new business plan.  And it really doesn't matter what one or two other micro-cap companies may have done.  Consider this.  You propose that a reverse split results in the stop achieving a higher value, only over a short time to be back where it was before.  Don't you see the same picture happening with a stock buy back?  I may be blind, but even I can see the similarity in those scenarios.