$ISBG - Keep this on radar!
A quick recap from June 2, 2016 PR...
* The company Board has agreed to a restrictive covenant agreement that no stock will be converted through new note holder debt conversions to dilute the stock for the next six months. ~ No increase in SS, however it is reducing now!
* ISBG has announced that the company's Board of Directors have approved a stock buyback program to reduce the company's common stock float. The company is in the process of establishing a brokerage account to execute the plan to buy-back shares of its common stock from the public market, and reduce the float by approximately 25%. ~ Happening now!
* The Board of directors have agreed that a percentage of revenues derived from several projects that the company is working on will be used for buyback program. ~ got $$$$ which is using for buyback!
* The company no longer needs to raise monies through toxic debt instruments that dilute the stock as revenues are increasing. ~ Yes ISBG got $$$$$$ <<Deliver Approximately $400,000 of Its Flagship Tequila Brand Besado per Quarter>> and, this is just Besado
* The company is currently negotiating with all third party note holders to buy back their debt. ~ could hear about this soon IMHO
* The goal of the company is to reduce the amount of the shares in the actual float dramatically through stock buy back program. ~ could be more than 25% IMHO!
* The decision to approve a stock buyback program by the company was made because the Board of Directors feels that the shares are undervalued and that the company is being shorted by market makers.
* The company will announce to the public when shares have been purchased and retired and expects to start the program as soon as brokerage account is opened and funded by the company. ~ Happening now as per latest SS from TA; but not completed yet!
Go $ISBG
AI
