SYCI, huge diff. between auth shares & outstanding
shares. This morning's panic-sell was not warranted and will be refelected in share price by week's end.
I like the explanation of needing the extra authorized shares, "just in case" to block any possible hostile takeovers.
Do you realize that theoretically, with only 38 M shares outstanding, it would someone plunking down just $191,000 (to purchase just over 19 million shares, at .01 per) to obtain controlling shareholder interest in this company, which declared a $275,000 profit in only 30 days of December business from their new real estate appraisal subsidiary, HTRG & Associates?
Makes sense they need some kind of share buffer to be a going concern and/or to acquire new companies, doesn't it?
