Point 360 fka PTSXQ

[bankmade]

8. On the Effective Date, Debtor shall cancel all outstanding equity securities,including stock, options and warrants, and complete such regulatory requirements to delist Debtor’s securities from the public market.

The members of a board of directors can authorize the repurchase of shares by the company. The bylaws may require the shareholders to approve this action, as a buyback means spending the company's cash. In order to cancel shares, the company must first redeem them by paying the current price on the public stock exchange. A redemption of shares reduces the number of outstanding "issued" shares available to public investors, also known as the float.
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