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Sunday, November 07, 2010 9:06:53 AM
"LONDON UNITED KINGDOM, October 26, 2010 -- VEGA BIOFUELS, INC. (Pink
Sheets: VGPR) announced today that it will cancel two billion shares of the Company’s
common stock, a move that will cut the Company’s float in half.
The shares were initially issued as part of a debt conversion by a debt holder of the
Company. The debt conversion was cancelled, prompting the canceling of the shares.
Prior to the canceling of the shares, the Company had 4,001,391,374 common shares in
its float. After the cancellation of the two billion shares, the Company will have
2,001,391,374 in the float.
The term “float” refers to the number of outstanding free- trading shares owned and
available for trading."
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