Matrix, about your thoughts...
From my understanding, this is the first step for putting shares back in the Treasury for their situation. From researching and reading he definition of the S-8 and its purposes, it is to register and deregister shares.
Once the shares are deregistered, it is taking them from the OS which is like making them cease to exist as in cancelling from what was stated by the company.
The shares will no longer be part of the Float (as they never were) and the shares will not be part of the OS (as they were previously) which is why the company PR-ed that the new OS would be 202 million shares.
I will further research it later, but the filing of the S-8 to deregister over 2 billion shares was a very good thing and I think was the first step needed. Now the rest is done between the company and their Transfer Agent. IMHO
(Maybe I should have mentioned it as "has taken the first step to retiring shares by cancelling over 2 billion shares from their OS.")
Again, I don't like their history, but this is a serious step in the right direction for a positive change. IMHO
v/r
Sterling
