Andiamo Corporation Announces Cancellation of 800,000 Shares
June 07 2012 - 4:51PM
Marketwired
Andiamo Corp (PINKSHEETS: ANDI) announces that it has successfully
negotiated a cancellation of 800,000 Preferred B shares and has
submitted the necessary request to its transfer agent. This
cancellation was accomplished through a voluntary share reduction
request from our Preferred B shareholders.
This initial cancellation of 800,000 Preferred B shares
eliminates 1.6 Billion shares of potential conversion to the common
shares.
"This reduction of potential liability of over 1.6 Billion
common shares should reassure shareholders that Andiamo is serious
about its commitment to its common shareholders. Major shareholders
have been asked to participate in voluntary share cancellations in
order to increase stock value. This further illustrates the long
term belief that our Preferred Shareholders have in our company and
their hopes to see tremendous success for Andiamo. The Company will
continue to seek opportunities to reduce our Issued and Outstanding
stock in order to add value to the Company and build shareholder
value," Commented Dustin Secor, CEO.
These cancellations will be reflected on the Company's next
filing of July 31, 2012.
About Andiamo Corporation:
ActionApp is currently expanding their popular and profitable
inventory of apps in rapid fashion across Apple and Android with a
short term goal of 500 apps in their portfolio, with 1000 Apps set
for a longer term goal. Action Apps has exceeded 16 million
downloads.
www.action-app.com
Safe Harbor Statement at www.action-app.com/statement/
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