posted
Press Release Source: First Guardian Financial Corporation
First Guardian Financial Corporation Addresses Shareholders Concerns Regarding Share Structure Thursday October 5, 1:53 am ET
NEW YORK--(BUSINESS WIRE)--First Guardian Financial Corporation (Pinksheets: FGFC - News), after an emergency meeting of the Board of Directors, responded to shareholders questions and concerns regarding the company's share structure. ADVERTISEMENT
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.
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.
This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
posted
Glad the company issued the statement on the share structure. Maybe this will settle the stockholders down a bit. We need more longs in the stock, way to many flippers. GLTA
PS: Glad I added 200K in the last month
Posts: 1289 | Registered: Dec 2005
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posted
jeez people, the shares they sold were restricted from trading for 2 years, so it has had no effect on the current pps. The part of the PR that you need to pay attention to is where they state the buyback will be completed by the end of month! Once they announce the buyback is complete this thing will soar. I also expect news of BSM and an update of the audited fins to come soon or around the announcement of the buyback. Again, the shares they issued were restricted and cannot be sold for 2 years...
-------------------- Success is having the time and money to enjoy all of life's wonders... Posts: 2083 | Registered: Nov 2005
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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.
Even if the 30 mil. was in the float right now, with the buy back complete at the end of this month, the O/S is still down.
-------------------- If ignorance is bliss, why aren't more people happy? Posts: 2647 | From: MN | Registered: Feb 2006
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I don't care about the 30 million - they're restricted for 2 years and it's better to buy the float with your cash then to give it in order to pay some one.
posted
IMO this will be the next CSHD if not in 06 then definately in early 07! I can and will wait and accumulate! JMO! do what you feel!
Posts: 2503 | From: connecticut | Registered: Mar 2005
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Dont mean to thread jump but I am new at the stock market. I have watched this board for a good 5-6 months and have gotten the feel of the wording and PR etc and have picked a couple stocks that have really jumped high. I have zero'ed in on this stock as the first stock I want to purchase. Could anyone point me in the direction I need to go and what I need to buy this stock? I have signed up on sogoinvest.com is this a good choice or should I go elsewhere? Any help would be appreciated.
posted
Abe, you need a brokerage account. I have a couple but if your looking to trade stocks in penny land I would suggest using choicetrade.com. They have $5 flat fee trades and transactions are usually very fast. Then all you need to do is fund your account and you can start trading
-------------------- Success is having the time and money to enjoy all of life's wonders... Posts: 2083 | Registered: Nov 2005
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posted
sogoinvest is only $1.50 a trade I believe....but do I need any stock viewing software or is the combined in the sites usually ?
Posts: 558 | From: Ocala, Florida | Registered: Jun 2006
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posted
Abe Smith welcome to allstocks. I dont know anything about the site you posted, I use etrade, some here dont care for them but i have been with them for 5 years with no problems, I may pay alittle more than some other brokers but my orders seem to execute pretty quick. there are quite a few brokers out there and they all seem to have thier drawbacks i am shure you will get other opinions on this subject, as for this stock, I own it, if you buy in do so because YOU like it NOT because some poster says it`s a good play. do your due dilligence(DD) and make a decision, and remember you alone are responsible for your gains or losses so NEVER invest more than you can afford to lose!. good luck and again, welcome to the board!.
Posts: 2503 | From: connecticut | Registered: Mar 2005
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posted
I went with choicetrade, the account signup was really easy, just gonna stop by the bank today and wire over some money to purchase a ton of this stock =P good luck all
Posts: 558 | From: Ocala, Florida | Registered: Jun 2006
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posted
Well its probably not a ton, a fraction to some of the purchases I was see'ing over the charts.
Posts: 558 | From: Ocala, Florida | Registered: Jun 2006
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posted
this WILL move big!! just a matter of time! they will have an A/S of 102 million and a tradeable O/S of less than 40 million when all is said and done! already made near a million and a half on just one deal with a 100 million dollar deal in the works with more to come. others out there with 5, 10 and 50 times the float running higher than this on NOBO PR`s and little else! this will run sooner or later. with all they are doing a buyout would not surprize me.
Posts: 2503 | From: connecticut | Registered: Mar 2005
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Today’s Price Performance as of 1:43pm EDT, 10/06/2006 Option Chains Margin Requirements Interactive Chart
Loading Chart1 Day | 5 Day | 6 Mo | 1 Yr | 3 Yr | 5 Yr $0.01 Last Price 0.0015 -12.50% Today’s Change $0.01 Today’s Open 1,523,469 Below Avg. Today’s Volume
-------------------- All I say is IMHO.
I like these calm little moments before the storm... Reminds me of Bethoven Posts: 3255 | From: Orlando, FL | Registered: Mar 2006
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