Tomahawk, WI 8/4/2011 (PennyPayDay) -- MC Endeavors, Inc. (PINK:MSMY) announced recently, in a press release, that the Company has reduced the Issued and Outstanding Common Shares (I/O) by 52 percent. MSMY is also under an e-mail promotion initiated this morning by a third party investor. As I write, shares of MSMY were up 6 percent at $0.11 per share on volume of nearly 500,000 shares.According to the Company, the Issued and Outstanding Common Shares were reduced by 342,000,000 Shares resulting in a new I/O of 312,746,519 Shares and a Public Float of 101,680,000 Shares. Management believes this action demonstrates a commitment to the common shareholder to improve and preserve the share structure, thus adding value for all shareholders.
The Company was able to reduce its I/O by having upper management holding permanently restricted shares voluntarily return their certificates for retirement. “Upper Management received no compensation for their return, but instead did it for the benefit of the company,” stated Timothy Algier, President and CEO of MC Endeavors, Inc.
“In addition, we can prepare our investment dollars and common shares for our upcoming planned acquisitions and joint venture partnerships,” stated Algier. “Management believes these actions will not only increase shareholder value, but meet the needs of potential partners and investors.”
MC Endeavors, a provider of natural disaster resistant building systems that uses welded steel tube framing systems on base isolator foundations and rigid closed-cell foam insulation instead of conventional structural wood framing and rolled fiberglass insulation.
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