Ngen Technologies Holdings Corp. (fka NGRP)

[Det_Robert_Thorne]

Lowering the AS isn't same as retiring shares

LIBE Begins the Process of Retiring 8.5 Billion Authorized Shares.

LIBE Begins the Process of Retiring 8.5 Billion Authorized Shares.

— Liberated Energy (@LIBEnergy) November 14, 2016

The tweet is disingenuous:

To retire shares one must buy back shares and then cancel them.

LIBE won't be doing that, but will simply be resetting the AS to a lower number.

If a company only has 1M outstanding shares, but the number of Authorized Shares is 10 Billion, then resetting the AS to 1.5B via an amendment to the Articles of Incorporation or Bylaws isn't taking back any existing shares, it's only reducing the possible amount of shares that can be legally issued.

Of course, the AS can easily be raised again at any time via another amendment.