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

To: hoffy who wrote (461)	3/26/1998 7:03:00 AM
From: dennis foster	Read Replies (2) \| Respond to of 9824

Here is the latest news release. Tianrong Building Material Holdings, Ltd. Clarification on Shares Outstanding Business Wire - March 26, 1998 00:16 %TIANRONG-BUILDING TNRG %NEW-YORK %BUILDING %CONSTRUCTION V%BW P%BW -------------------------------------------------------------------------------- Jump to first matched term NEW YORK--(BUSINESS WIRE)--March 26, 1998--Tianrong Building Material Holdings, Ltd. (OTC BB:TNRG) today issued the following statement with regard to its shares outstanding. "After yesterday's announcement of the cancellation of 9,186,814 shares and the earlier cancellation of 2.5 million shares of Tianrong stock, there are approximately 35 million shares outstanding. The cancellation of the 9,186,814 shares, and as yet, two other unannounced cancellations, were in progress but not completed at the time of the March 18 press release which implied outstanding shares of approximately 25 million. The figure of 25 million shares outstanding was based upon total share cancellations in progress. It is anticipated that the two additional stock cancellations of 4 million shares each will be completed in the near future. Upon cancellation of these shares a total of 19,686,814 shares will have been cancelled bringing the total shares outstanding to approximately 25 million shares." Tianrong is a business development company that has set as its goal the acquisition of businesses in numerous industries and plans to apply Tianrong's management expertise to quickly grow value in the acquired businesses. It is anticipated that on a long-term basis some of its acquisitions may be spun-off to Tianrong shareholders via stock dividends. CONTACT: Tianrong James Tilton, 212/398-7833 Best of Luck Dennis