posted
Memy, I have sent them two emails regarding the share structure and never received a response. I hope you do. Maybe they dont like me. lol. TMAN...
-------------------- In the end, trust only yourself when trading stocks.
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posted
Okay, we should all call and email and "polietly" demand an explination for the O/S increase. While it is still a relatively low O/S for a pink, it is most disconcerting that it continues to grow with no explination.
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quote:Originally posted by MEMY SELFANDI: I'm sorry sally you will have to explain that one to me ,What r/s , and how would that increase the os.
This is the r/s info you requested. Straight from the horses mouth.
PR from October 5th,
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First Guardian Financial Corporation Addresses Shareholders Concerns Regarding Share Structure
NEW YORK, Oct 05, 2006 (BUSINESS WIRE) -- First Guardian Financial Corporation (Pinksheets: FGFC), after an emergency meeting of the Board of Directors, responded to shareholders questions and concerns regarding the company's share structure.
The company, as previously announced, is currently executing a buyback of its common shares on the open market, the company expects this to be completed by the end of the month, including the 100 million shares bought back from the previous management, at that point the company will retire/deposit with its transfer agent the acquired shares and will also correct any discrepancy at that point with The Secretary of State of Delaware and its transfer agent.
It has been brought to the attention by many shareholders that the share count per the transfer agent has increased by 30 million shares; this is true as the company has issued restricted shares (in lieu of cash payment for services) these shares are not saleable (free trading) for 2 years and will not impact the company's overall objectives. The company opted to issue restricted shares opposed to hard earned cash.
The company is committed to having the least amount of free trading shares as possible and as the company generates more revenue, it will continue to buy more of its shares back as possible on the open market, as the company's business plan going forward to the OTCBB is to as little shares in the public's hands as possible.
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DONT GET ME wrong. They should provide us with an update as promised. Are they issuing restricted shares? And to whom? And how many?
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posted
Thanks sally , when you said r/s i thought you were talking reverse split , hence the confusion.. as far as how many? 25mil since 11/13 would the TA know restricted share count?? MEMY
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posted
There is a lot of discussion about the company issuing restricted shares while they are retiring shares at the same time. Has anyone thought that perhaps the company is issuing the resticted shares (which are not fully tradeable for 2 years) to allow them to conserve cash with a game plan that they will try to purchase these restricted shares back in the future once they are up on their feet and making money. Just a thought. Good luck. With the issuance of restricted shares the O/S will increase but the public float will not, just to clarify.
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