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Saturday, July 18, 2015 8:25:09 AM
A/O the last filing, the O/S had been reduced by 2 billion shares (from 30 billion to 28 billion). On April 9th, BG released a press release that states, "BudGenius Announces Intention to Repurchase More Company Shares." In that press release, BG states the "Company is considering repurchase of up to 2 billion shares." This mirrors the press release on September 4th which states, "BG Announces Share Repurchase." In this press release BG states, the "Board of Directors has signed an agreement resulting in the net repurchase of 1.499 billion shares of its own stock, almost 5% of the company’s outstanding shares." As stockholders later learned (per the Sep 30 quarter filing), the total repurchase was just over 1.9 billion shares, bringing the total O/S down to 28 billion shares. When the April 9th (announced) repurchase is complete, this will lower the O/S down to 26 billion, bringing the total repurchase to date to just under 4 billion shares, or 13% of the total float. In terms of the 65 billion fully diluted, that is somewhat of misnomer. As I pointed out yesterday, BG continues to only have 30 billion A/S registered at the Wyoming SoS. And it has been this way for nearly 2 years, and all the while the total O/S continues to be reduced.
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