"We are committed to the reduction of our outstanding shares and will be exploring additional ways to add to those reductions."
A R/S is certainly an "additional way".
LOL.
Look, far be it from me to defend a penny scam which this is...but I find it ironic that after many criticisms and warnings about this pos ticker are provided...that suddenly there is shock and dismay that it acted exactly like a penny stock.
Its like someone walking into a casino and being shocked that gambling is going on. ;-)
A majority of the shares voted in lieu of a meeting and guess what...R/S.
The moral of the story?...don't buy penny stocks especially with voting control in a very few people.
The other irony here about the R/S is that it may be the ONLY way for some to preserve capital. Because if it is denied, Rico can't dilute further and it will be abandoned and stuck at no bid, no volume...which means NO investor capital can be recovered.
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