Strategic Penny Stocks To Watch SOUTHRIDGE ENTERPRISES (OTC: SRGE)
Up 10.00% on Wednesday
Southridge Enterprises, Inc. operates as a renewable energy company. It primarily focuses on the production and marketing of ethanol and other renewable fuels in the eastern United States. The company was founded in 2004 and is headquartered in Dallas, Texas.
SRGE News:
January 30 – Southridge (SRGE) to Decrease Total Outstanding Shares by Over 18%
02-02-12 Strategic Penny Stocks To Watch SOUTHRIDGE ENTERPRISES (OTC: SRGE)
Southridge Enterprises Inc. (OTC: SRGE) (“Southridge” or the “Company”) announced that it will be retiring 150 million shares. This transaction represents a reduction of approximately 18% of the Company’s issued and outstanding common shares.
Michael Davies, the Company’s President, commented, “By decreasing the total outstanding shares by over 18%, we intend to increase future earnings per share and allow our share price to more accurately represent the quality and profit potential of our assets and operations to the investment community.”
As previously announced on November 08, 2011, the acquisitions of stock under the repurchase plan will be made from time to time as permitted by securities laws and corporate legal requirements and subject to market conditions and other factors. Share purchases will be funded by the Company’s cash and through debt financing. The repurchase plan will continue as long as periodic management reviews deem it to be fiscally feasible and the plan may be discontinued at any time.
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