PDSC when they did the 1000:1 reverse split actually had their 12 billion shares authorized down to 12 million shares (10x 10 x10 =1000 or 12 billion to 1.2 billion to 120 million to 12 million). Press release from PDSS Company symbol (symbol before June 27th 2005) stated "The Board of Directors has also approved a reduction of authorized shares for the company. Authorized shares will be reduced from the current 12 billion shares authorized down to 27 million shares".
I'm sure PDSC created a few hundred million shares on their AtomicX & IFS acquisitions in the last year plus 220 million to stone financial to get back to at least 670 million share figure(latest number mentioned). PDSS was FSIG before March 4th-2005 & did a 4:1 forward split when symbol was changed to PDSS when Karney came on board (see below)
TORONTO, Mar 3, 2005 (PRIMEZONE via COMTEX) --
Food Safe International, Inc., the 'Company', or (Pink Sheets:FSIJ) is pleased to announce that it has been informed that NASDAQ has received everything necessary to effect the name change and forward split for FSIJ. The reorganization will be effective at the open of the market on 3/4/05, and the new symbol for Produce Safety and Security International, Inc. will be PDSS.
President & CEO, Jason Wong stated, "We are very happy that our stock split will be effective tomorrow. The Company has received a new CUSIP number and stock symbol PDSS, and we are informing shareholders to contact their brokers to assist our transfer agent in ensuring the timely surrender of old certificates for new post split shares."
President & CEO Jason Wong stated, "We have positioned the Company for new acquisitions and the appointment of Mr. Clarence 'Bill' Karney as the new President & CEO from Food Safety International LLC. The Company intends to appoint Mr. Clarence Karney as the new CEO and President and acquire Mr. Clarence Karney's Food Safety International LLC. The Company intends to issue capital stock of FSIJ as compensation to Mr. Clarence Karney for his appointment. Mr. Jason Wong, FSIJ's current visionary President will remain as the chairman of the Advisory Board."
TORONTO, Mar 7, 2005 (PRIMEZONE via COMTEX) --
Produce Safety and Security International Inc, the 'Company,' or (Pink Sheets:PDSS) announced today that the Board of Directors has appointed Mr. Clarence 'Bill' Karney as President and Chief Executive Officer of the company, effective March 7, 2005. In addition to his position as President and CEO, Mr. Karney will join and expand the company's Board of Directors. Jason Wong has stepped down yet will remain as the chairman of the Advisory Board.
"I view this management transition as a positive development at this point in time and it is my intention to remain closely affiliated with PDSS and assist Bill Karney in all aspects of the company's development and specifically in maximizing shareholder value," stated Jason Wong. "Bill Karney's dedication to PDSS, his food safety expertise and his understanding of the entire produce business environment provide me with confidence in his leadership."
"I am very pleased that Jason Wong and his group will remain closely affiliated with PDSS," said Bill Karney, "His advisory commitment will mean that PDSS will continue to benefit from his vision and in-depth knowledge of the company and its shareholders."
AI
