Observation regarding the share structure & float:
Nov. 6, 2006 (PRIMEZONE) -- Metropolis Technologies Corp. (Other OTC:MTPT.PK - News) announced today that the Board of Directors and the majority of its shareholders have approved a proposal to officially change the name of the company to ``Impact E-Ticketing Corporation.'
Did any of you guys receive any notification regarding a proposal for the name change? If not, I think its safe to assume that the Board of Directors or our officers maintain the majority shareholder position of this company. If this is the case, I think it's safe to assume that the technical float can be no more than 50 million shares... just imo.... what do you guys think?
and actually... to build up on that: If the Company has managed to re-acquire 19 million shares (I assume this means buyback, please correct me if i'm wrong), then the actual amount of tradeable shares (float) ought to approximately be around 31 million
Would appreciate feedback. tia.
