Basically, the company wants to get back to pre 1:10 split levels of around there (I actually think it was about $1.20/share at split time). They are helping to accomplish that by wiping out a ton of the A/S and buying back 25MM of the outstanding/float, to hopefully accomplish that goal (50-55MM oustanding/float). I say that because it will actually be about 150MM or so O/S but over 100MM of those are restricted and controlled by management.
p.s. - Firehawk7_2000: Any possibility to add a "memorable posts" section on the I-box info? Fonzy's would be a good one there, IMO. Just an idea. Thanx for the service you're providing here! :) lns