ez saw IVCM on your S-8's list tried to find it an couldn't. I'll figure that out later. I thought S-8's were a sign of dilution, if so why would they release this......
IVI Communications, Inc. Retires 13.7 Million Shares Reducing Total Outstanding by Approximately 20%
Wednesday November 9, 4:00 pm ET
LOS ANGELES, Nov. 9 /PRNewswire-FirstCall/ -- IVI Communications, Inc. (OTC Bulletin Board: IVCM; German WKN# A0DNWJ) is pleased to announce that it has retired 13.7 million of its common shares, reducing its total number of outstanding shares from about 68 million to approximately 54 million shares. This decrease reduces the outstanding shares by approximately 20%.
IVCM held a controlling interest in another company, Broadspot World Wide Wireless, Inc. ("Broadspot"). As part of a transaction that IVCM entered into to sell its controlling interest of Broadspot, 13,734,669 million shares of IVCM common stock were returned to IVI Communications and subsequently cancelled. The Broadspot shares, which were sold to a Nevada investment group, constituted IVCM's entire interest in Broadspot.
Nyhl Henson, IVCM President and CEO states, "The number one priority of IVI Communications is to build value for all of its stakeholders. The cancellation of these shares and reduction of the total outstanding represents our commitment to that priority."
If you would like more information on IVI Communications, Inc., please visit our website at www.ivn.net, or contact Investor Relations at Blue-Sky Solutions, LLC, Stephanie Soleas, (877)4-BLUE-IR, ivcm@blueskyir.com.
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jackson42