Boston, MA 06/26/2014 (wallstreetpr) – NYBD Holding Inc (OTCMKTS:NYBD), a provider of bottled water for children, has had an impressive rally so far this week and in the past three months. The company intends to reduce its authorized shares in an apparent effort to undo the impact of dilution that has been going on in the stock for quite some time now. The company announced this week through its Facebook page that it intends to reduce its authorized shares by 1 billion.
The company’s authorized shares reportedly stand at 4 billion. While a reduction of 1 billion shares would still leave a whopping 3 billion shares, the move signals a commitment on the side of the management to undo the impact of dilution and the latest move could just be the beginning of more reductions in the near future.
Shares of NYBD Holding Inc (OTCMKTS:NYBD) are up more than 333 percent over the past one month.
Medient Studios Inc (OTCMKTS:MDNT) is the latest company to suffer from the intense scrutiny of the U.S. Securities and Exchange Commission. SEC has stopped trading in the shares of the company until July 9, following a wave of problems that have dogged the company and even raised serious concerns about its integrity. The regulator noted that its action to suspend trading in the stock of Medient Studios is linked to a lack of accurate and adequate information regarding such things as the company’s financial health.
The move comes at a time when the ousted CEO Manu Kumaran filed a lawsuit seeking to dissolve the company. Heads rolled recently in the company where the CEO, consultants and several staffs were fired.
The suspension of trading in the stock of Medient Studios Inc (OTCMKTS:MDNT) also comes just a few weeks after the company announced $90 million investment in a mega studio complex off Old River Road.
NanoTech Entertainment, Inc. (OTCMKTS:NTEK) intends to start shipping its Ultra-HD media players, which made headlines last week by meeting Google Inc (NASDAQ:GOOG) Compatibility Test Suite (CTS), by the end of this month. Shares of the company soared last Friday after the company issued a press announcement that the device passed Google CTS. However, this week has been different for the stock because it continues to lose its recent gains. The stock lost almost 16 percent in the previous session.
