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StockStar wrote: Hey, this is grat news. 25% stock float reduction. This just tells me the price per share should be going up, probably 25% or .005 over the next few weeks. ********************
There is some confusing about the percentage of the buyback among the float. Based on the share structure listed on FGFC's website, the float is about 82 M shares, so 50 M shares represents about 60% of the float, and the impact on the pps will be huge after the buyback is completed.
****** TOTAL AUTHORIZED SHARES AS OF: 6/16/2006 200,000,000
ISSUED AND OUTSTANDING SHARES AS OF: 6/16/2006 198,182,048
posted
We are taking 98 M shares off the plate. Some restrictied and some unrestricted. I can't see how this does not dramatically affect the pps. We shall see.
-------------------- - "Pay it Forward"
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i think we just need fresh money in here.. but too bad cuz they're tied up with BKMP XKEM and such.. that's why good potentials like FGFC and FHAL are taking a beating..
posted
stockstar flippers are what gives at this point.cant blame anyone for protecting their money.hang tough you will get your profit soon.
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quote:Originally posted by plni: stockstar flippers are what gives at this point.cant blame anyone for protecting their money.hang tough you will get your profit soon.
Not worried about it. Days like this most everything goes down, but when it recovers we'll be back up and then some. Actually, if the company was in buyback mode you would think that they'd mon back while the price was down.
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People jump out because they know that this PR wasn't the one to start a big run, and now it will be a wait until it runs again. They want to play other stocks, but this company looks solid and they'll be back...
-------------------- "I will smack you in the mouth, I'm Neil Diamond"- Will Ferrell
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When the float is 30 million, and just a handful of us hold the shares this will run to $1, because we won't sell you all any until that pps.
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First Guardian Financial Corporation to Retire 48 Million Shares Thus Reducing the Company's Authorized Shares to 152 Million
By BusinessWire Last Update: 6/27/2006 11:46:01 AM Data provided by
NEW YORK, Jun 27, 2006 (BUSINESS WIRE) -- First Guardian Financial Corporation (Pink Sheets: FGFC) today announced it has agreed to acquire a block of 48 million restricted shares thus reducing its authorized shares to 152 million.
The Board of Directors has approved management's acquisition of said shares; this move will be above and beyond and will not affect the previously announced buyback of up to 50 million shares on the open market for up to a maximum price of 0.06 per share for a budgeted commitment of up to $3,000,000.00 Dollars.
"The company is fully committed to reducing its share structure to the bare minimum thus enhancing shareholder value," stated Abraham Rosenman, President of First Guardian Financial Corporation.
About First Guardian Financial Corporation:
The company is a Financial Holding Company currently providing Commercial Real Estate Financing & Invests for its own portfolio in small to mid sized businesses. Its primary goal is to provide short term financing within the commercial real estate market and invest and or provide secured short term financing to businesses either in the start up stage or growth stage throughout the United States.
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i think MM's stopped yesterdays run to gather more shares. today and tomorrow shall be interesting.. we might just have 2-3 days extended run.. chart shows plenty of room to move though!
-------------------- All my posts are based on my own opinions and not to be taken as buy/sell recommendations.
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