Wialan Technologies (OTC Pink: ACYD), a next generation telecommunications provider, today announced that the board of directors have approved an aggressive strategy to tighten up its share structure and decrease the float up to one hundred million shares.
The plan, starting October 1, 2013, calls for the repurchase from the open market or in privately negotiated transactions. The repurchase of stock will continue until the value has increased by 300 percent as of closing yesterday.
“The repurchase plan shows our confidence in the long-term potential for Wialan Technologies and our commitment to increasing shareholder value. We believe that the ACYD share value is greatly undervalued by the market, and it is our goal to raise our stock price by 300 percent by the end of this year, with substantial share value increases in 2014,” commented Timothy Peabody, Chief Executive Officer.
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