Business
Northstar announces aggressive share buy-back and cancellation program to reduce outstanding securities by up to 200 million shares.
Northstar announces aggressive share buy-back and cancellation program to reduce outstanding securities by up to 200 million shares..
About this update from Medgen Inc
[{"type":"text","content":"\n\n\n\n\n\n\n\nNorthstar announces aggressive share buy-back and cancellation program to reduce outstanding securities by up to 200 million shares.\n\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:\"0in\";\n}\n\n\n\n\n\n\n\n\n\n\nNorthstar announces aggressive share buy-back and cancellation program to reduce outstanding securities by up to 200 million shares.\n\nPR Newswire\n\nHOLBROOK, N.Y., Feb. 27, 2013\n\n\n\n\n\n\n\nHOLBROOK, N.Y., Feb. 27, 2013 /PRNewswire/ -- Northstar Global Business Services, Inc. Symbol (OTCPink: MDIN), today announced that it has started implementing an aggressive strategy to tighten up its share structure and decrease its outstanding shares by a minimum of one hundred million shares, and a maximum of two hundred million shares. The decrease will take place through a combination of share purchases in the open market, and cancellation of certificates currently issued but not yet deposited. By doing this, the company hopes to aid in the increase of its share price to levels that better represent the success of the company. \n\n\nNorthstar's CEO, Nicholas Chieco explained, \"It's truly ridiculous for us to be trading at these prices considering how much we have accomplished, so by buying back as much as a hundred million shares in the open market, we can eliminate any dilution caused by old restricted stock certificates that have become free trading in the past six months, and then some. By making deals to cancel another hundred million restricted shares that are out there, we can avoid that dilution from ever happening again.\" The company plans to acquire shares in the open market up to a price of about ten cents, or a hundred million shares which ever comes first.\n\n\nOnce purchased and in the treasury, the company will cancel most of the shares, keeping only a small amount, about a quarter of them, available should the company need to fund inventory or equipment purchases in the future. \"It's just smart business to keep some shares in the treasury. Registrations are time consuming and costly, so having some shares set aside assures us that if we run sho...