PDX Partners, Inc. (OTC Pink: PDXP) Skyrockets 161.90% After Reducing Authorized Share Count From 2.29 Billion to 750 Million
PDX Partners, Inc. (OTC Pink: PDXP) is engaged as a telecom company, which seeks to generate returns through acquisition and development of long term assets. Shares of the telecom company jumped 161.90% during trading on Monday, October 30, 2017. Over the past month, PDX Partners, Inc. has seen average daily volume of 8.85 million shares. However, volume of 33.59 million shares or dollar volume of $369,490, exchanged hands during Monday.
Shares of PDX Partners, Inc. are surging today, after the company announced that the Board of Directors has approved a measure to reduce its authorized share count from 2.29 billion to 750 million shares. Management says the move was to support shareholders and “enhance net stock holder equity.” Furthermore, the Board says it may make further reductions in the future. Here is the full press release detailing of the share structure reduction:
PDX Partners, Inc. Press Release:
PORTLAND, OR–(Marketwired – Oct 30, 2017) – PDX Partners, Inc. (“PDXP”) (OTC PINK: PDXP) a Telecom company, announces that the board has recently voted to amend the company’s Articles of Incorporation with the State of Wyoming to reflect another substantial reduction of authorized shares, in the amount of 2,290,000,000 shares to 750,000,000. Said CEO Patrick Johnson: “We have decided to further decrease the number of shares authorized as we believe a lower number of authorized shares and issued and outstanding will allow us to sustain a good stock price while building a solid market cap for the company in the long term. As our share price stabilizes we will seek to make additional reductions to even further enhance Net Stock Holder Equity.”
About PDX Partners, Inc.
PDX Partners, Inc. (OTC PINK: PDXP) is a Telecom company dedicated to creating revenue and shareholder value by marketing Telecom products and acquiring other long term growth assets. The company was founded in 1997.
For more information go to: www.pdxpartners.net
Safe Harbor Statement
This release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E and/or 27E of the Securities Exchange Act of 1934 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company’s ability to raise necessary financing, retention of key personnel, timely delivery of inventory from the company’s suppliers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties.
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