$AURI Auri Inc. Share Buyback Program https://w
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Posted On: 05/28/2024 10:02:48 AM
$AURI Auri Inc. Share Buyback Program
https://www.newmediawire.com/news/auri-inc-sh...am-7075403
AURI defines new share reductions, share buyback and retirement program
DALLAS, TX - (NewMediaWire) - May 28, 2024 - Auri Inc. (OTCPK: AURI) (the Company): Today the company is sharing the detailed buyback, share reductions and share retirement program.
The company established a percentage-based program for acquiring shares in the market. The first 3 billion AS have already been cancelled. The new Transfer Agent, Legacy, will also retire another 1 billion from recent common shares that EQ TA, and then Signature TA were assigned to complete. The DTCC finally cleared Legacy as the new TA. The share retirement formula is structured based on the percentage of sales. Regardless of the PPS, the share acquisition will continue as long as 10% of gross revenues are used as purchasing budget. The company will have an agent as well as a BD as an acquisition representative.
In addition, the company is spinning off several of its wholly owned subsidiaries and will use the proceeds for additional funding buyback. This includes the sale of several art assets.
“The whole concept of reducing the outstanding and authorized shares is to encourage the market to recognize the supply and demand as well as taking advantage of the most recent PPS. We are not using any investment based, share sales or any other structured financing. We devised a program where the company will automatically use 10% of its products sales to acquire shares from the markets, regardless of current or future PPS. Today, we are picking up shares due to a very low PPS. The great news is that we paid for all the products developments and www.thechamp.io launch, so the company owes no debt, and now is creating revenues with product sales. The undervalued PPS allows for the company to reduce the float at a very aggressive price,” stated Edward Vakser.
https://www.newmediawire.com/news/auri-inc-sh...am-7075403
AURI defines new share reductions, share buyback and retirement program
DALLAS, TX - (NewMediaWire) - May 28, 2024 - Auri Inc. (OTCPK: AURI) (the Company): Today the company is sharing the detailed buyback, share reductions and share retirement program.
The company established a percentage-based program for acquiring shares in the market. The first 3 billion AS have already been cancelled. The new Transfer Agent, Legacy, will also retire another 1 billion from recent common shares that EQ TA, and then Signature TA were assigned to complete. The DTCC finally cleared Legacy as the new TA. The share retirement formula is structured based on the percentage of sales. Regardless of the PPS, the share acquisition will continue as long as 10% of gross revenues are used as purchasing budget. The company will have an agent as well as a BD as an acquisition representative.
In addition, the company is spinning off several of its wholly owned subsidiaries and will use the proceeds for additional funding buyback. This includes the sale of several art assets.
“The whole concept of reducing the outstanding and authorized shares is to encourage the market to recognize the supply and demand as well as taking advantage of the most recent PPS. We are not using any investment based, share sales or any other structured financing. We devised a program where the company will automatically use 10% of its products sales to acquire shares from the markets, regardless of current or future PPS. Today, we are picking up shares due to a very low PPS. The great news is that we paid for all the products developments and www.thechamp.io launch, so the company owes no debt, and now is creating revenues with product sales. The undervalued PPS allows for the company to reduce the float at a very aggressive price,” stated Edward Vakser.
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