On4 Communications Inc (ONCI)

[xdrive]

2016

On4 Communications Provides Shareholder Update; Initiates Reduction of Authorized Shares

NEW YORK, NY--(Marketwired - Jun 23, 2016) - On4 Communications, Inc. (OTC: ONCI) is pleased to announce that the company will be filing the necessary paperwork with the State of Delaware to reduce ONCI's authorized shares to 3.75 billion shares, which is a reduction from the current 5 billion shares currently authorized. The company had previously stated in a letter to shareholders that it would be reviewing the authorized shares in order to determine a balance between immediate shareholder interests while allowing room for strategic acquisitions. Just over 1.5 billion shares are restricted of the issued and outstanding...

On4-Communications-Provides-Shareholder-Update--Initiates-Reduction-of-Authorized-Shares