Metrospaces Inc (MSPC)

[tutankhamuns]

The shares that were retired derived from positions held by management, and were most likely restricted stock to begin with. Unless newly issued shares are canceled before they’re sold into the open market or the company initiates a buyback, the float cannot be reduced.

MSPC has no intention of doing so now that they are planning to deregister from SEC reporting status.

Whether or not their assets outweigh their liabilities is another unknown factor that would affect the possibility of an unlikely buyback program as well. That’s the problem with companies who are delinquent filers.

However, one should expect the float to increase from the expected note conversions, hence the 20 billion A/S.

they just retired 1.6 billion shares which will certainly counter act any fall out from the settlement, if not improve upon the float.