Intelective Communications, Inc. Board of Directors Approves a Major Buyback of Its Common Shares
Tuesday March 18, 9:09 am ET
SACRAMENTO, Calif.--(BUSINESS WIRE)--Intelective Communications, Inc. (tm) (OTC:ITLV - News), an online advertising agency today announced that its Board of Directors has approved a Major Buyback of its Common Shares.
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Intelective’s Board of Directors approved the Buyback of 1 Billion Shares of its Common Stock. Upon completion of the Buyback the shares will be retired/returned to the Transfer Agent, and the Authorized Shares will then be reduced equally with the Secretary of State. The company has started buying back the shares already and will announce each time a block of the purchased shares are retired.
“We intend to purchase these shares as expeditiously as possible, as management feels that it needs to take immediate action to better reflect its Share Price/Market Cap of the company’s true worth,” said Lee Traupel President. Mr. Traupel also stated, “We will continue to evaluate additional ways to bring our share price inline with our believed value of the company, including additional acquisitions and or additional share buybacks.”
