Vision Real Estate Management and Development Cancels 73% of its Outstanding Shares Business Wire - April 16, 2004 15:30
ALBANY, N.Y., Apr 16, 2004 (BUSINESS WIRE) -- Vision Real Estate Management and Development, Inc. (Pink Sheets: VRMD), today announced that shareholders owning 225,000,000 shares of its outstanding common stock have returned their shares to the company for cancellation. The cancellation of the 225,000,000 shares reduces the total issued and outstanding shares of Vision Real Estate Management and Development's common stock down to 81,936,993 shares.
"We promised our shareholders no unnecessary dilution and we meant it," stated, Daniel J. Duffy, Vice President of Vision Real Estate Management and Development. "The holders of the shares being cancelled and management of the company believe that the reduction of the outstanding shares is necessary in order to more effectively implement the company's plan to acquire profitable private companies."
"Vision Real Estate Management and Development would like to inform all share holders that the company has a positive cash flow, stated," Donovan Rhoden, President and CEO of Vision Real Estate Management and Development. "We are making some changes to the structure of the company, which we will be announcing shortly. This structure change will benefit the shareholders. As president and CEO of this company, I would like to thank all of our share holders for being so faithful to this company and giving us time to execute our business plan.
Forward-Looking Statements the private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company's behalf. All statements, other than statements of historical facts which address the company's expectations of sources of capital or which express the company's expectation for the future with respect to financial performance or operating strategies, can be identified as forward-looking statements. Such statements made by the company are based on knowledge of the environment in which it operates, but because of the factors previously listed, as well as other factors beyond control of the company, actual results may differ materially from the expectations expressed in the forward-looking statements.
SOURCE: Vision Real Estate Management and Development, Inc.
Vision Real Estate Management and Development Daniel J. Duffy, 518-862-1676 Fax: 518-862-9247 WWW.VRMDCORP.COM
posted
Networm, Yes I see a dime is your first target, I think we will go much higher than that in the short term. There is so much to this company and I really don't think anyone would go wrong buying at these levels.
It will be up to .10 in a hurry IMHO and than that is when the real break out will occur.
posted
I was wondering the same thing. Bob usually picks well. Bob, what do you think? Still a buy on Monday morning? I noticed on Bigcharts.com that the last bid (after hours) was @ 0.04. Am I too late? Do you think this one has TEEN potential or higher? Or do you think that this will jump to about 5-6 cents and drop again?
quote:Originally posted by brandwilliams: I am curious to the topic starter's opinion on this one Monday. Just curious.
Brandon
[This message has been edited by jimbo (edited April 17, 2004).]
posted
Jimbo, FWIW many are talking that have been longs for a long time that they are still accumualting aggressively as most feel this will roar past .10 quite quickly. I posted this on the other thread but since this was started I will repost a post from HSM and one of their most respected members:
Yes I think VRMD will be a five bagger. I also think we will GAP a little but the main thing is MOST of us longs and people with positions now know that this is goiong much higher and the GAME plan is coming together in a BIG way.
From all indications we will get another PR this week and MAN nobody wants to be on the outside looking in when that happens either. Just the fact they cancelled all those shares will get the MM's finally running IMHO.
Watch the next few weeks climb it should be amazing!
That will still just be the start, which is the most exciting thing of all IMO.
HSM new members, old members and current longs have a great opportunity right now that we are fortunate enough to be presented with!
posted
Continuing with what Glassman stated. Who gave shares back?..Never heard of such. Did they buy them back or what? Going to watch monday morning and see what happens.
Brandon
Posts: 390 | From: friendship, tn USA | Registered: Feb 2004
| IP: Logged |
posted
.05 and moving on up Im thinking .10 is easy 9% of O/S trading by 10:15 can't wait to see the late day move!
Posts: 3346 | From: Leominster,MA,US | Registered: Jul 2003
| IP: Logged |
posted
Yes i think VRMD could be a huge play for this board I think we could see .10 easy this week. Anything under .05 is being gobbled up fast.
Posts: 59 | Registered: Dec 2003
| IP: Logged |
posted
over 10 of the o/S traded in the first 1 1/2 hours of trading the float must be getting very very thin! only 89 million O/S available. This thing is gonna fly. With a 6 month high of .08 and that was with the old o/S befor the cancelation of 225 million shares. this could be as high as .24 if the stats add up. If they finish one of there aquistions this week who knows how high it could go!
Posts: 3346 | From: Leominster,MA,US | Registered: Jul 2003
| IP: Logged |
posted
52 week high volume is 12 mil. and it should trade above that today without any problem at all.
Posts: 3346 | From: Leominster,MA,US | Registered: Jul 2003
| IP: Logged |
posted
I'm in on this one averaged at .035 I have faith in this little puppy. If they really do what they are saying and doing, this is very very very very undervalued. Especially for the O/S. Posts: 21 | From: chalmette | Registered: Apr 2004
| IP: Logged |
posted
Duffy needs to come out with a PR SOON. Thats fantastic if he does when this this is down to .0020. So what if it doubles in one or two days. Most people will only be back up to what they bought it for.
I am still holding onto this one, but a little damage control from upper management would be nice.
Posts: 34 | From: Chicago | Registered: May 2004
| IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
