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Friday, May 11, 2007 11:19:31 PM
The share reduction was accomplished by Homeland's Board of Directors and former Director, Chris Panel removing common shares and converting them to preferred stock.
"This reduction in common shares increases the value per share," stated Fred Wicks, CEO and President of Homeland. "Although this reduction is a significant step, we are committed to continuing our efforts to reduce the number of shares outstanding."
My question, Who is holding the rest of these 4.2 billion shares? The majority of this had to be FM and Big Apple. There must be some other big holders out there though. I mean this board probably doesn't hold a billion or even half a billion shares, so who are the other big holders.
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