Taronis Technologies (NASDAQ:TRNX) has approved a US$1 million common stock buyback program. The program is expected to be discretionary, with periodic buybacks throughout Q1 2020.
As quoted in the press release:
“With the commencement of the $18.75 million gasification purchase under Taronis Fuels, our Company is expected to receive $1.3 million in royalty payments over the next 90-100 days,” commented Scott Mahoney, CEO of Taronis. “Our Company is committed to maximizing shareholder value through all options, including cash dividends and buyback programs. It is our assessment that an immediate buyback program provides a meaningful way to deliver maximum shareholder value given the expected free cash flows to Taronis early in 2020.”
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