Wednesday, July 25, 2012

COHO Stock Ready To Make Another Move?

COHO comes out this morning with more share related news, this time cutting its outstanding share count by 50 million shares.  This could be the spark that drives shares to higher prices today and this week.  COHO should be a stock to watch going forward.

Cooper Holding Cuts Outstanding Share Count by 50 Million

Marketwire   "Press Releases"

COTTAGE GROVE, TN -- (Marketwire) -- 07/25/12 --
Cooper Holding Corporation (PINKSHEETS: COHO), announced today they have reduced the current outstanding share count by 50 million.

CEO Daniel Cooper remarked, "I'm pleased with the recent progress we've made and this is just another step in the process as we continue to execute our turnaround strategy. Tim and I promised to make the capital structure more appealing to investors and that's what we're doing. This is an exciting time for us, we're signing new distributors, bringing new products to the market place, our revenues are increasing, and our investors are happy with the way we're conducting business. The summer show season has given us the chance to introduce the Big Tom and we've attracted the attention of some major players. This speaks to the potential commercial success we have on our hands and we're doing everything we can to capitalize on this opportunity. I plan on addressing our shareholders as soon as possible but don't want to do anything prematurely. We've waited a long time to be in this position so I'm not taking any chances by releasing information that could adversely affect any part of the negotiations."

Executive Vice President Timothy Durant added, "With the latest reduction, our current outstanding common share count stands at 693,945,913, the unrestricted common share count is at 639,091,824, and the current float remains unchanged at 531,091,824. We are still looking at additional reductions and feel like it would be in the best interest of all involved to make these cuts as soon as possible. We have been advised not to release additional details until future changes have been completed. We will continue to provide our shareholders with the most up to date information as soon as it becomes available."

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