Simulated Environment Concepts, Inc., the manufacturer and developer of medical, aesthetic, weight loss, wellness, and slimming equipment, announced that it has officially began the first phase of the recently announced authorized share reduction plan. Authorized shares have now been reduced by two billion shares with the second phase targeting an additional 4 billion shares.
Dr. Ella Frenkel, President, CEO and Co-Founder of Simulated Environment Concepts (SE Concepts) stated, “The first phase of our plan provided room to make an initial reduction of nearly 20% in authorized shares. As we continue rolling through the auditing processes to completion, we will be better positioned to identify how many additional shares can be eliminated from the authorized share count within the second phase of our plan.”
In order to achieve the next phase of reduction, it is assumed that a further decrease in Directors’ equity holdings will be required. During the current phase, the reduction in Preferred Share holdings from Directors permitted elimination of authorized common stock.
According to today’s release, it is anticipated that SE Concepts will eventually reduce its authorized share count to roughly three billion shares. It is also expected that the audit will reach completion, the company will secure significant financing and that the company will be engaged in the completion of a possible merger/acquisition by the time its target authorized share amount is achieved.
Dr. Frenkel concluded, “We are headed in the right direction, taking every necessary step to strengthen our company’s perception among investors and shareholders, and to strengthen our actual market position.”
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