Buyback.
It will be interesting to learn officially from the company how many shares are in the public float and outstanding after the number of shares bought back by the company are announced.
Under 100 million would be nice.
From Oct. 5 news release:
"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."
According to the way FGFC has traded again today, sideways to red, investors are firmly in a "show me" mode with this company still.
