November 19, 2009 (FinancialWire) — Health Sciences Group, Inc. (OTC: HESG) has acquired approximately 1.5 billion shares and has issued instruction to the company’s transfer agent to retire them.
The company is prepared to continue retirement of additional shares as conditions permit.
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I noticed that this stock seemed dormant for the longest time at .0001. I bought a few 100,000 shares. It just started to climb little by little last week and now it seems to be tanking again. Could this have anything to do with the announcement to retire 1.5 billion shares? Why would a company want to diminish that much value in it’s company? Am I understanding the concept of stock retirement? If someone could explain this to me in better a better understanding way, I would be greatly appreciative.
Thanks,
John B.