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NEWSSSSSSSSSSSSSSSSSS
247MGI, Inc.: 247MGI TO CANCEL 40 MILLION SHARES OF COMMON STOCK
FT. LAUDERDALE, Fla., Jun 03, 2008 (M2 PRESSWIRE via COMTEX) -- 247MGI, Inc. (OTC:TOFS.PK) ("247MGI") is pleased to announce that a substantial shareholder of the Company has agreed to send back to the Company 40 million shares of common stock to be canceled for Preferred shares in the Company.
247MGI has been working on this transaction for awhile and expects the certificates back in its possession within the next couple of weeks. When the 340 million share of common stock are canceled the number of outstanding shares will be 59 million, a big enough reduction for the Company to move forward with its planned reduction of the Authorized shares to 90 million.
247MGI is placing a Paypal link on its website to raise money to send calling cards to our troops. Please donate whatever you can so our men and women of the military can do what we do everyday, call home!
The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
CONTACT: 247Newswire e-mail: mdwyer@247mgi.com
M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com.
(C)1994-2008 M2 COMMUNICATIONS LTD
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Tell it like it is....
Cool...
Bastages....
400k first half hour gotta like that...
Agree hopefully peeps don't flip and we can see 3 real quick...
@ @15 and they are also on the offer hmmmm
picked up 5 new board marks the AM already....
Well they will not stay here if the attacks on the Offer continue they will average up so I think we see a new HOD and a new HOD close...
Awfull lot of working going in to maintain the 1's...JUST LET MY TOFS BREATHE..............
Hmmm I wonder why they don't left the offers.....
Never too many just not enough hours.....
Had a tight spread I think it will work this way with NITE and DOMS they can't afford a run...IMO
Serving 16's 202k so far
Totally agree HotDog!
128K 15's getting spanked....
14 where strong serving 15 and loky looky who are both playing on the offer again will work this all day I bet...
YEAH 12, 13 fall serving 14...
Dam...LOL
I will settle for 500% today the other 500% can come next week...LOL
I agree
I see our board marks are up to 108 things are getting interesting....
and WOOOOOOOOOOOOOOOOOOOW!!!
Well the level 2 is primed to go...
GM everyone I know this is amazing...
8 shows in the hopper..and possibly 6 more added this week and a video on the way....Forgot clappy hands Jump up and down B*tch...LOL
Forgot about this which prives new eyes...
247MGI had record web stats for the month of May and expects higher traffic for the month of June. The two months combined could exceed all traffic to the website for the first quarter and traffic will continue to grow as the Company looks to begin advertising.
do you think reducing the O/S by another 50% help??????
Out of here until the open keep spreading the word today should be a breakout day.....
247MGI is in negotiations to cancel up to an additional 49.5 million shares HUGE!!!!!!!!!!!!!!
With this news may have gotten a whole lot easier.....
Well here is Pr spelling everything out about the Share reduction so this should help keep the faith...
LET's not forget this:
Military Calling Cards
247MGI has placed a Paypal link on its website to raise money to send calling cards to our troops. Please donate whatever you can so our men and women of the military can do what we do everyday, call home!
Looked like MM trading to keep it down for the EOM NITE and DOMS this new NEWS should HELP...
Truf this news should really help explains the share reduction better for the A/S and more shows....
The new voice has ARRIVED....
During Wednesday's broadcast Smallcap Rapp will feature a new 30 second spot produced with Jenna one of the new voices of Smallcap Rapp to promote calling card donations for the Military.
SHARE REDUCTION UPDATE
Share reduction update:
247MGI is in negotiations to cancel up to an additional 49.5 million shares of its Common Stock, the previously announced 300 million share certificate is in the company's hands and will be forward to the transfer agent and canceled within the next week. If all negotiations go as planned then the number of shares Outstanding shall be reduced to less then 50 million and the Company will then reduce the Authorized shares to 90 million as previously announced.
Your Sniffer was right!!!!!!!!!!1
I Bet this NEWS helps thoes higher high's