Monday, June 20, 2011 7:22:20 AM
HENDERSON, Nev., June 6, 2011 /PRNewswire/ — Evader, Inc. (Pink Sheets:EVDR.pk - News) management announces steps to reduce the number of outstanding shares by more than 529 million (529,595,313). These are restricted shares being purchased from a majority shareholder. The current outstanding share structure of EVDR (see OTC Markets)http://www.otcmarkets.com/stock/EVDR/company-info sits currently at 880 million. This will be reduced by 529 million shares to be approximately 351 million outstanding shares. The authorized shares will remain undisturbed at 980 million.
EVDR expects this step to positively and significantly affect and increase the company value and establish a closer relationship with the shareholders. EVDR expects the seller and majority shareholder Videolocity Inc. to be in the position to complete the transaction and return the stock to treasury of EVDR within the next 10 business days.
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