Universal Express Buy Back Program Defined
Universal Express, Inc. (OTC:USXP) announced today that its Board of Directors has authorized that 7% of all new monies raised will go toward the repurchasing of the Company's common stock in the open market from growing funding sources.
In addition, the Board has authorized up to 10% of the proceeds from any corporate sale or spin-off be utilized as part of the stock buy-back program.
Commenting on the stock buy-back USXP President and Chief Executive Officer Richard Altomare stated, "By agreeing to allocate 7% of all new monies raised toward the purchase of the Company's stock in the open market the Board of Directors is expressing its opinion that the current valuation being accorded the common shares does not reflect the solid future prospects for Universal Express."
That one hooked a *lot* of buyers back in '99. It worked so well, he did it again in 2001. I'd bet he could release that exact same PR today, and the boards would be awash with posts claiming *this* time will be different.
Tell big lies and sell worthless paper to the believers. That has been RA's agenda since day one, just like Urban and Vinnie of cmkx and pcbm, plus hundreds of others who never get the attention of the understaffed enforcement division of the SEC
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