OMDA is also announcing that the reduction of the authorized shares from 10 billion to 250 million has been completed. The new authorized shares limit is now in force and has been submitted to http://www.pinksheets.com/ to be posted to OMDA's company information section.
Mr. Barnett commented, "Once the lawsuit was resolved the first order of business was to completely change the company's share structure. After lowering the authorized shares and canceling the preferred shares we have not only given our shareholders a direct say-so in all major decisions, but we have also put them into a position to receive benefit much more as the company moves forward with oil and gas production."
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