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| FDIT Management Shows Good Faith to Shareholders Reduces Shares Outstanding Substantially |
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 Hot Stock to Watch |
Company: Findit, Inc. (Pink Sheets: FDIT)
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Last:
Price: 0.0188
Change (%): + 0.001 (5.62)
Volume: 75,865 |
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Findit, Inc. Announces Stock Swap to Reduce Common Shares Outstanding by 100 Million Shares
The current reduction makes the total Common shares converted to Preferred to a total of 1.4 Billion shares since March 3rd, 2016
Atlanta, Georgia, March 21, 2018 (GLOBE NEWSWIRE) - Findit, Inc. (Pink Sheets: FDIT), an innovative social media management company, today announced it will reduce its Common shares outstanding from 345,430,032 to 245,430,032. The reduction will be completed by March 31st, 2018. The 100 million shares will be converted into Preferred B series and be eligible to be converted back in June of 2019.
Raymond Firth, President of Findit, said, “This benefits our Common Stock shareholders by reducing the Common Stock outstanding our shareholders will benefit in the future if Findit is profitable by having less common stock outstanding on a per share earnings basis.”
The outstanding Common Stock was previously reduced by 1.3 billion shares. The current reduction makes the total Common shares converted to Preferred to a total of 1.4 Billion shares since March 3rd, 2016. These additional 100 million shares will also be converted to Preferred Stock and not be eligible to convert back to Common until June 30th, 2019.
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