General Finance and Development, Inc. (OTC Pink: GFDV) is engaged as an investment and business development company servicing small and medium-sized companies. Shares of the finance company skyrocketed 101.96% during trading on Friday, September 28, 2018. Over the past month, General Finance and Development, Inc. has seen no average daily volume. However, volume of 17,264 shares or dollar volume of $35,563, exchanged hands during Friday’s trading.
Shares of General Finance and Development, Inc. surged Friday, after the company announced plans for a share purchase program. Management says the company will start purchasing outstanding shares of common stock in open market and through private transactions. Here is the full press release detailing of the share purchase program:
General Finance and Development, Inc. Press Release:
General Finance and Development, Inc. (OTC Markets: GFDV) announced today that the company will begin purchasing outstanding shares of its common stock from shareholders in open market and private transactions. Shareholders have reported increasing difficulty with larger brokerage firms accepting OTC shares and high fees when depositing stock certificates and executing trades with smaller boutique brokerage firms. Having the option to sell their shares directly to GFD will provide a lower fee alternative for shareholders while management considers taking the company private.
Simultaneous with the stock purchase program, in order to save costs, General Finance and Development will discontinue its subscription to the OTC Disclosure & News Service. All information including shareholder reports with financial statements will continue to be available at the company website www.genfd.com.
About General Finance and Development, Inc.
General Finance and Development, Inc. combine investment capital and business development services to small and mid size companies. Capital is made available to qualified companies by equity and/or strategic loan agreements. Business development services include business planning, organization and management development. GFD also pursues merger/acquisitions and joint venture projects.
The foregoing material may contain forward-looking statements. We caution that such statements may be subject to uncertainties and that actual results could differ materially from the fore-going statements. Readers accordingly should not place undue reliance on these forward-looking statements which do not reflect anticipated or unanticipated events or circumstances occurring after the date of these forward-looking statements. More information regarding General Finance and Development including financial statements and reports is available at the companys website www.genfd.com and www.otcmarkets.com.