Home > Boards > US OTC > Delisted > Point 360 (fka PTSXQ)

8. On the Effective Date, Debtor shall cancel

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
bankmade Member Profile
 
Followed By 3
Posts 212
Boards Moderated 0
Alias Born 08/09/17
160x600 placeholder
bankmade   Wednesday, 05/09/18 12:06:56 PM
Re: None
Post # of 570 
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.
https://budgeting.thenest.com/happens-value-issued-stock-common-stock-redeemed-canceled-32057.html

Panic buy high, wait, sell very low. Repeat to make others rich.
Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist