NEW YORK, NY, Dec 27, 2006 (MARKET WIRE via COMTEX) -- Global Diamond Exchange Inc. (PINKSHEETS: GBDX) is pleased to announced that it has instructed its transfer agent, First Global Stock Transfer, to retire an additional 15,120,000 shares of the company's common stock This will bring the total of Outstanding Shares to 361,554,517 Global Diamond Exchange expects further reductions in the coming weeks and will announce reductions as they occur. ..
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Global Diamond Exchange Inc. Retires Additional Common Stock, Addresses Market Cap Issues Wednesday January 31, 9:53 am ET
NEW YORK, NY--(MARKET WIRE)--Jan 31, 2007 -- Global Diamond Exchange Inc. (Other OTC:GBDX.PK - News) is pleased to announced that it has instructed its transfer agent, First Global Stock Transfer, to retire an additional 12,600,000 shares of the company's common stock. Once this retirement takes place, it will bring the total of Outstanding Shares to 348,954,517. ADVERTISEMENT
Global Diamond Exchange is looking at other possible ways to increase shareholder value as the market cap of the company is significantly lower in comparison to current sales revenues. The company is aware that upon full financial disclosure the market may more accurately reflect the real economic condition of Global Diamond Exchange.
About Global Diamond Exchange:
Global Diamond Exchange originally opened their office on 2 West 46th street in the heart of the New York's Diamond District. After several years of operation at their New York office the company decided to shut down the operation due to low pricing and soft demand in North America. The company concentrated its efforts on exporting cut diamonds from the Russia Federation and European locations. The new company has reopened its sales offices in the original building ready to take on the increased demand for fine quality diamonds.