This is the email I got from their IR last Friday AM. I'd be in before they reduce the A/S publicly, I'm looking for a 500 mil A/S myself. The reason why it is at 12 billion currently is becuase they did a 120:1 Forward split a few months ago and did the same F/S with the A/S before was 100 million. Contact Mickey in HR for more info....
Since you and probably other investors have such concern, we just discussed with our legal counsel and have decided to reduce our authorized capital. It will be announced very soon. Hope that will relax you and also other investors.
Best regards,
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Mickey Jiang
Heli Electronics Corp. (OTCBB: HELI)
Office Tel: +86 020 36356928
Email: mickeyjiang@haier-ia.com
Web: www.helielectronics.com
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???: Mark Taylor
????: 2010-08-19 19:55:05
???: info@helielectronics.com
??:
??: HELI Authorized Share Count
HELI,
As a new investor into HELI you must address your 12 billion authorized share count. Currently the outstanding share count is 266 million, yet you are authorized to issue many more. Unless you reduce the authorized share count to near the outstanding share count us investors will not put much more money into HELI.
You also need to come out with guidance as to your revenue and EPS for 2010 and 2011. We know you are growing, but put a number on it for us.
The sooner you address all of this the better it will be for all.
Invested,
Mark J. Taylor
Crushing Pinklyland Est. 2009
