ExpressJet (XJT)

[novicetrader]

This is my understanding-The O/S(outstanding shares) is the one that would come down automatically by one-tenth,by a 1-for-10 R/S.The Authorized can be kept at a higher figure if the company so chooses,to give them room for future transactions.That is to say,the company does not have to bring down the A/S to 40 million from 400 million.
Will someone confirm the above please.This is the way I understand it.