From 7 months ago does a RS sound like it’s in their plans? Sounds more like an acquisition in the plans.
Sirrus” or the “Company”) (OTC PINK: SRUPD), an emerging cyber security solutions provider, today announced that it plans to complete a share reduction of its issued and outstanding common stock. This plan is a follow up to the Company’s recent 40-for-1 forward stock split/dividend and is part two of a long term Comprehensive Capital Structure Plan to improve its capital structure and provide value for its shareholders. The split was effective for trading purposes at the market opening on November 28, 2017.
The Company believes a reduction of its issued and outstanding common stock will be positive for the Company’s capital structure and its long-term plans. The share reduction will be executed by the majority shareholder of the Company and is expected to be finalized shortly.
In the future, the Comprehensive Capital Structure Plan may include, but not limited to, further common stock reductions and other stock based dividends.
The objective in choosing to complete the forward stock split was aimed at reaching financing objectives and increasing acquisition resources. Specifically, the corresponding increase in the Company’s authorized common stock allows for increased availability in shares that could be used in future acquisition transactions.
Ms. Sparrow Marcioni, the Company’s CEO, stated, “It required several weeks of planning to determine the correct formula for our capital structure plans. When considering acquisition resources and financing and the costs associated with these types of transactions, we opted to address our anticipated need in a forward split and increase in authorized common stock. The Company is now focused on continued execution of its business plan and generating sales in all security sectors of their business model.”
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