US National Telecom’s stock had an impressive run-up for the last two trading session. We entered into this trade yesterday at around $.003/share.
Congratulations to our “A” list subscribers who followed our email alert.
Back to the stock: four last USNL‘s press releases were all about share structure reduction. Based on our knowledge of the company’s past performance and our trading experience on the “reduce the authorized common stock” news, we’re positive that “momentum play” for USNL is over. We are sellers into tomorrow, that’s all.
US National Telecom, Inc. (USNL.PK) announced today that the Board of Directors has approved to reduce the authorized common stock by 500 million shares.
As of April 9, 2012 there are currently 3,475,250,391 shares issued and outstanding of which 3,000,210,033 are restricted.
Rebecca Guthrie, US National Telecom’s CEO, stated:
I along with current shareholders am concerned where the valuation is currently with our company. I would like to provide some stability in our company and its share price. I believe that this change will provide confidence that the Company is working diligently to increase shareholder value. We look forward to continuing our plans in the real estate market in the coming months.