Replies to post #87955 on GNCC Capital Inc (GNCP)

[tob999]

Wow man wth dyu think??? $750,000 share buy back!!!!!!!!!!!!!

Wyoming corporate law is clear in that Wyoming corporations may engage in stock buy-back programs without restriction; the restrictions that apply to payment of corporate dividends are not included in the provision of Wyoming law that specifically authorizes stock buy-backs. The legal certainty provided by Wyoming law on this point is a clear advantage over the present state of Delaware corporate and case law. Additionally, there are substantial savings on state franchise tax.

The Company’s Directors have legal opinion that recommends that the Company effect this re-domiciling to Wyoming, given provisions of Delaware Law; that in the Opinion of Legal Advisors to the Company, currently prohibit the Company from implementing its authorized Stock Buyback Program.

The Company’s Directors authorized a Stock Repurchase Program of up to $750,000 on January 13, 2014 and amended on September 26, 2014. The Company secured the necessary funding for this Stock Repurchase Program without utilizing any of the Company’s existing loan agreements and expressly without utilizing any of the existing Company’s various Subsidiary Companies’ profits and cash. The full details of which were filed on the OTC Markets Filing & Disclosure Service on January 13, 2014.

http://www.businesswire.com/news/home/20140929005302/en/GNCC-Capital-Re-Domiciling-Effect-Stock-Buyback-Program#.VHek6zGsXX4

[diamondguru-one]

Okay so please explain why GNCP redomicile then?


SHARE AUDIT and UNLIMITED SHARE BUYBACK !!!! NO Restrictions on the company's buyback !!! next