GRDO News Today 10/22/2018...Guard Dog, Inc. Repatriates Over 6% of Its Outstanding Shares; Returns Them to TreasuryFont size: A | A | A
9:00 AM ET 10/22/18 | GlobeNewswire
Guard Dog, Inc. Repatriates Over 6% of Its Outstanding Shares; Returns Them to Treasury
BOULDER CITY, Nev., Oct. 22, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- George Sharp, President and CEO of Guard Dog, Inc. (PINKSHEETS: GRDO), announced today, that the company has reacquired 150 million shares of its common stock and returned them to treasury. The shares represent a reduction of over 6% of the number of shares that were previously outstanding.
Mr. Sharp stated, "Our forensic audit of past share issuances revealed that 150 million shares were improperly issued for no value received. At our urging, the holder graciously return the shares and they have now been cancelled. We continue to internally investigate past issuances and hope to see a further reduction in the number of shares outstanding soon."
The share reduction has now been reflected in the number of outstanding shares reflected on Guard Dog's profile page found at the OTC Markets website. This number will continually be kept update to date by the company's transfer agent, Madison Stock Transfer, who at the company's request has become a "Verified Transfer Agent", as defined by OTC Markets. "We asked Madison to become verified in our continued quest for transparency, so that the public would not have to guess at the number of shares outstanding", remarked George Sharp.
The total number of shares outstanding is now 2,232,589,568. The total number of shares reported at OTC Markets is incorrect and much less than reported. This number will be corrected on the OTC Markets website shortly. The number of shares currently reported as "Float" as well as the number of shareholders should also be disregarded.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words "may," "will," "should," "plans, " "expects," "anticipates," "continue," "estimates," "projects," "intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, the Company's ability to successfully execute its expanded business strategy, including by entering into definitive agreements with suppliers, commercial partners and customers; general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technical advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, regulatory requirements and the ability to meet them, government agency rules and changes, and various other factors beyond the Company's control.
Guard Dog, Inc.
1022 Nevada Highway
Boulder CIty, NV 89005
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October 22, 2018 09:00 ET (13:00 GMT)