Southridge Enterprises Inc (SRGE)

[xdrive]

it looks more like a share buying company ;)

SRGE is not a mining company ... it is a Share Selling Company.

The Company also announces it is continuing their share Buyback with plans to increase the overall program. To date, Southridge has bought back a total of 443,576,000 shares and retired them to the treasury. The total outstanding shares to date are 545,874,868 with a Public Float of 215,957,230 and Restricted shares 329,917,638.

"At this point in Southridge's development, it makes sense for us to continue to buy-back shares of the Company. In our opinion, the current share price and market capitalization of the Company does not reflect our recent corporate developments," said Davies, "which is why we feel the program offers value to our shareholders."

Acquisitions of stock under the repurchase plan will be made from time to time as permitted by securities laws and corporate legal requirements and subject to market conditions and other factors. Share purchases will be funded by the Company's cash and through debt financing. The repurchase plan will continue as long as periodic management reviews deem it to be fiscally feasible and the plan may be discontinued at any time.

The Buyback program is intended to increase future earnings per share by reducing the number of shares outstanding and allow our share price to more accurately represent the quality and profit potential of our assets and operations to the investment community.