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Microcap & Penny Stocks : TNRG Tianrong Building Materials -- Ignore unavailable to you. Want to Upgrade?

To: Big Dog who wrote (371)	3/25/1998 7:16:00 PM
From: Jim B	Read Replies (1) \| Respond to of 9824

REUTERS ALSO picked up this story.. fyi Wednesday March 25, 4:31 pm Eastern Time Tianrong cancels 9.2 mln shrs NEW YORK, March 25 (Reuters) - Tianrong Building Material Holdings Ltd said Wednesday that it has cancelled 9,186,814, or 20 percent of the shares of previously issued Tianrong stock, one week after it canceled another 2.5 million such shares. In total 11,686,814 shares, or about 26 percent, of Tianrong stock has been cancelled in the last 10 days, the company said in a statement. The total number of Tianrong shares that remain outstanding is about 35 million, it said. The 9,186,814 shares cancelled today had previously been held by parties who were owners of the stock for more than two years. Thus, the cancellation of this stock prevents the stock from entering the float. Tianrong describes itself as a business development company with acquisition plans in several industries.