Stratton Holdings; (STHG) CEO to Reduce Outstanding shares by 23%
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Stratton Holdings, Inc. (OTC: STHG) released the following update on its operations:
Chief Executive Officer, Mr. Eric Stratton Racheff, wanted to inform shareholders of his decision:
"In taking a look at the overall picture of the Company's goals and the Company's share structure I have decided to cancel 100,000,000 shares of my personal holdings. Of which I will instruct our Transfer Agent to do so for an execution date of Monday, June 15th, 2009.
"The reason for this is very simple, our ideal share structure is much lower than it is now. We also are building a group each taking on ownership and that includes investors. Rather than the all too common Pinksheet company where the CEO owns 95%. This will change that and allow us to move forward
"Here is the current share structure as of June 1st 2009:
"Outstanding Shares: 424,075,777
"Held by Insiders: 234,000,000
"I feel this is a correct step for not only me but for the Company as who wants to secure financing in such a low range.
Chief Executive Officer, Mr. Eric Stratton Racheff, wanted to inform shareholders of his decision:
"In taking a look at the overall picture of the Company's goals and the Company's share structure I have decided to cancel 100,000,000 shares of my personal holdings. Of which I will instruct our Transfer Agent to do so for an execution date of Monday, June 15th, 2009.
"The reason for this is very simple, our ideal share structure is much lower than it is now. We also are building a group each taking on ownership and that includes investors. Rather than the all too common Pinksheet company where the CEO owns 95%. This will change that and allow us to move forward
"Here is the current share structure as of June 1st 2009:
"Outstanding Shares: 424,075,777
"Held by Insiders: 234,000,000
"I feel this is a correct step for not only me but for the Company as who wants to secure financing in such a low range.
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