EZ do you think it is just stockholders selling. Seems no one would be selling at these levels. The Pr which the company issued below a couple of weeks ago lead me to believe the company is not selling.
Microsignal Corp Reduces Outstanding Shares
TUESDAY, SEPTEMBER 02, 2003 1:11 AM
- BusinessWire
LAS VEGAS, Sep 2, 2003 (BUSINESS WIRE) -- Microsignal Corp (MSGL) announced today that the Board of directors cancelled 12,788,508 shares issued October 4, 2002, allegedly for earned cash flow. In addition, 1,370,000 S-8 shares issued to an affiliate have been restricted.
The outstanding shares are reduced 23.7% from 53,875,058 to 41,086,508.
4,262,836 shares were cancelled and will be reissued to former shareholders of Microsignal.
The S-4 issued on June 30, 2003 by the former CEO is being voluntarily withdrawn.
This press release contains "forward-looking statements" within the meaning of Private Securities Litigation Reform Act of 1995. Such statements can be identified by lead-in "Looking Forward." These statements are not guarantees of future performance and involve significant risks and uncertainties. Actual results may vary materially from those in the forward-looking statements as a result of the effectiveness of management's strategies and decisions, general economic and business conditions, new or modified statutory or regulatory requirements, and changing price and market conditions. No assurance can be given that these are all the factors that could cause actual results to vary materially from the forward-looking statement.
SOURCE: Microsignal Corp
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