At the date of sale, the reissuance is recorded just as one would for the sale and issuance of
unissued stock.
The board of directors also recommended an increase in the
unissued stock to 32 million shares, all with pre-emptive rights, according to Ed Rasmuson, chairman of the bank's board of directors.
to issue 10,900,000 shares of its authorized but
unissued stock to the owners of X.
Total Lifestyle Directors recently approved a 10 for 1 reverse split of the Company's common stock as well as the purchase of certain assets and marketing rights for 4,500,000 common shares of the Company's authorized, but
unissued stock.
These shares, which constitute 52% of the company's issued and outstanding stock, will be returned to the company forthwith, to be held in Treasury or retired to the status of authorized, but
unissued stock.
American Union also granted Valley a revised option on 180,000 shares of American Union's authorized but
unissued stock.
In connection with the execution of the letter of intent, American Union also granted Valley an option on 180,000 shares of American Union's authorized but
unissued stock which can be exercised in certain circumstances.
Rock Financial Corporation also granted Valley an option on shares of Rock's authorized but
unissued stock.
In connection with the execution of the letter of intent, Rock Financial Corporation also granted Valley an option on shares of Rock's authorized but
unissued stock.
Currently, upon the exercise of stock options or the award of restricted stock, the Company issues shares from its authorized but
unissued stock.
