TNRG Tianrong Building Materials Message Board

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Microcap & Penny Stocks : TNRG Tianrong Building Materials

TNRG 0.000200

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Nov 14 9:30 AM EST

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To: Gold Panner who wrote (2680)	6/27/1998 12:22:00 PM
From: TraderGreg	Read Replies (1) of 9824

I was under the impression that they were restricted shares that had performance provisions that were not satisfied. Restricted shares may be credited to someone but the transfer agent need not send restricted certificates. Thus, they can easily be cancelled. Now, shares that are in the float can only be "retired" if the company buys them on the open market and retires them. The company takes cash that at that point in time is not "working" for them and uses the cash to reduce the float. Short term it is a very positive move as it sends a message that the company itself sees itself as a buy. If, as an example, all O/S shares were in the float and the company retired half of them, the true increase in the value of the remaining stock would depend on how much the cash used for the retirement was as a percentage of the total assets. But to the street, it would be viewed as a near doubling of the value of the remaining shares. And we all know that that view is the one that counts. TG

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