May 19, 2015, Press Release
IRVINE, CA--(Marketwired - May 19, 2015) - Broadside Enterprises, Inc. (OTC PINK: BRSE) announced today it has cancelled and retired seven billion shares of its common stock. The company also announced that it plans to significantly reduce its authorized shares as the company continues to clean up its capital structure and remove potential sources of dilution.
With the share cancellation, Emaji has now reduced its outstanding common stock to 6,603,450,087 shares. The total restricted shares have been reduced from 8,540,631,491 to 1,540,631,491 shares. The total non-restricted shares remain the same at 5,062,818,596, with the float (CEDE) totaling 4,232,602,089 shares.
Emaji will also be reducing its authorized shares during the next 12 months as another major step to cleaning up its capital structure. The specific amount of the authorized share reduction is expected to be at least 15 billion shares. The final amount will depend on the total amount of authorized shares required to fulfill existing and future estimated issuance needs, including issuances for corporate acquisitions and debt retirement.
Emaji has now cancelled and retired 16 billion shares during the past year. In addition, the company has reduced its total outstanding convertible debt by 61% since January 1, 2015 as it continues to work on creating a solid financial foundation for future business development.
Emaji also announced that it has not entered into any agreement to promote its stock nor has it authorized any third party to conduct any type of promotion on its behalf.
Additional information about Emaji can be found in the Company's reports and filings at www.OTCMarkets.com.
Broadside Enterprises, Inc. (OTC PINK: BRSE), based in Irvine, California, is a publicly traded company with three divisions: Sports, Entertainment, and Ventures.
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's reports and filings at http://www.OTCMarkets.com.
Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made.
Emaji Investor Relations