I’m in the process of performing some auxiliary research on AUCI and have come across the fact that though the company stated in its’ latest press release that there are now 50 million shares outstanding. Apparently as of June 27, 2007 or thereabouts (I just noticed that it still reads this way in the iBox as well), there were only 44 million shares issued and outstanding. I may be missing something here, but somewhere along the way was the entity known to have released the additional six million, authorized but not outstanding, shares into the float?
Please see the following excerpts from the company below:
"There are 50 Million shares outstanding, of which 25 Million are restricted and are held by myself, directors, and the technical and support staff of Auctions International. Of the 25 Million that are free trading, 9.3 Million are registered on DTC as of January 11, 2008. From that 25 Million, 8 Million are held by family members and friends who have supported AUCI's development and expenditures over the past two years.”
Share Structure
Exchange : OTC:BB Pink Sheets
Trading Symbol: AUCI
Initial Trade Dated: June 27, 2007
Authorized: 50,000,000
Issued & Outstanding: 44,000,000
Restricted: 25,000,000
Free Trading: 19,000,000