A1 Group Inc (OTCMKTS:AWON) Stock On Watchlist After Cancellation of Common Stock

As another trading week commences, investors are going to be looking into those stocks which had been in the news this past Friday and one such stock was that of A1 Group Inc (OTCMKTS:AWON). The company announced on Friday that it had managed to identify two major blocks of its common stock and was working on processing those blocks for cancelation to the treasury.

Additional Cancellation of Common Stock

The first possible cancellation to the treasury would be for a block of 166,568,157 shares of the A1 Group common stock, which is currently held by a control stockholder. The shares had been issued by the company back in July 2017 as per the provisions of a licensing agreement but it had never been actually consummated.

If the cancellation of those shares succeeds, then the issued and outstanding shares in A1 Group would drop to 205,187,881 from 371,756,038, which would work out to a drop of as much as 44.81%. Additionally, A1 Group also announced that it had identified a total of 56,962,757 shares of its common stock that had been held by five shareholders and those shares could also be cancelled to the treasury eventually. A1 Group is currently conducting research on the transactions which resulted in the issuance of those shares.