Solos Endoscopy, Inc (PINK:SNDY) has traded as high as $.0089 during today’s trading session and last traded at $.0084 for a gain of 40% from yesterday’s close… SNDY shares have traded as high as $.03 over the past 52 weeks, which is 72% off that high at last traded stock price.
Solos announced yesterday that the Company’s Board of Directors has completed the retirement of 150M common shares held by its officers and directors in exchange for Series B Convertible Preferred Shares. The common shares held by the officers and directors have now been cancelled and returned back to the Company treasury. This transaction represents a reduction of approximately 22% of the Company’s issued and outstanding common shares. Get my next ALERT 100% FREE
The retirement of common shares by the Company’s officers and directors will allow for greater flexibility to utilize the assets of Solos for debt reduction, future financing, and services. The Company intends to use proceeds from future financing for the development of new instrument lines as well as further enhancements to its MammoView® instrument line.
“This share retirement allows Solos to maintain the integrity of its market while continuing to develop its new product line. Management believes in our progress and is willing to take a long term position in the Company’s Series B Preferred Shares,” stated Bob Segersten, President of Solos Endoscopy, Inc.
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