$heff's $tation of $tocks & $olid DD

[Qui-Gon Kagi]

Techjunkie,

"Mr. Smith agreed to return such shares to the company for cancellation. The Board of Directors approved this transaction. Mr. Smith received no consideration for the cancellation of the shares. In the near future, the Board of Directors and Mr. Smith intend to discuss amendment of the terms of Mr. Smith's employment agreement and the restructuring of any equity or incentive compensation."

I don't understand the cancellation either but it might be good for the company and bad for Mr Smith if we're lucky. lol