Roanoke Technology Corp. Announces Retirement of 100 Million Shares of Common Stock Thursday January 27, 8:33 am ET
ROCKY MOUNT, N.C., Jan. 27 /PRNewswire-FirstCall/ -- Roanoke Technology Corp. (OTC Bulletin Board: RNKE - News) announces that CEO David Smith has converted 100,000,000 shares of his personal stock to Class A common stock, allowing RTC to retire the 100,000,000 shares of common stock. ADVERTISEMENT
RNKE C.E.O. David Smith commented, "Our original plan was to retire the shares gradually in four lots of 25,000,000. Based on a review of this decision, we decided to retire the entire lot of 100,000,000 shares at one time. Our goal with this retirement is to increase our shareholder value."
Note: "Safe Harbor" Statement Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company' expectations with regard to the future impact on the company's results from new products in development are forward looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.
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Based on how much of this stock is out there 100,000,000 shares is around $100,000. That is not going to effect overall shareholder's value.
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That PR yesterday was just to keep rnke in the news. That many shares "retired" with this company is only a drop in the well. What a scam!
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