Monday, October 16, 2006 4:14:20 PM
October 5, 2006 - 12:53 AM EST
First Guardian Financial Corporation Addresses Shareholders Concerns Regarding Share Structure
First Guardian Financial Corporation (Pinksheets: FGFC), after an emergency meeting of the Board of Directors, responded to shareholders questions and concerns regarding the company's share structure.
The company, as previously announced, is currently executing a buyback of its common shares on the open market, the company expects this to be completed by the end of the month, including the 100 million shares bought back from the previous management, at that point the company will retire/deposit with its transfer agent the acquired shares and will also correct any discrepancy at that point with The Secretary of State of Delaware and its transfer agent.
It has been brought to the attention by many shareholders that the share count per the transfer agent has increased by 30 million shares; this is true as the company has issued restricted shares (in lieu of cash payment for services) these shares are not saleable (free trading) for 2 years and will not impact the company's overall objectives. The company opted to issue restricted shares opposed to hard earned cash.
The company is committed to having the least amount of free trading shares as possible and as the company generates more revenue, it will continue to buy more of its shares back as possible on the open market, as the company's business plan going forward to the OTCBB is to as little shares in the public's hands as possible.
Greenlite Ventures Inks Deal to Acquire No Limit Technology • GRNL • May 17, 2024 3:00 PM
Music Licensing, Inc. (OTC: SONG) Subsidiary Pro Music Rights Secures Final Judgment of $114,081.30 USD, Demonstrating Strength of Licensing Agreements • SONGD • May 17, 2024 11:00 AM
VPR Brands (VPRB) Reports First Quarter 2024 Financial Results • VPRB • May 17, 2024 8:04 AM
ILUS Provides a First Quarter Filing Update • ILUS • May 16, 2024 11:26 AM
Cannabix Technologies and Omega Laboratories Inc. enter Strategic Partnership to Commercialize Marijuana Breathalyzer Technology • BLO • May 16, 2024 8:13 AM
Avant Technologies to Revolutionize Data Center Management with Proprietary AI Software Platform • AVAI • May 16, 2024 8:00 AM