SOURCE: Andiamo Corporation
ST PETERSBURG, FL--(Marketwire - Jun 7, 2012) - Andiamo Corp (PINKSHEETS: ANDI) announces that it has successfully negotiated a cancellation of 800,000 Preferred B shares and has submitted the necessary request to its transfer agent. This cancellation was accomplished through a voluntary share reduction request from our Preferred B shareholders.
This initial cancellation of 800,000 Preferred B shares eliminates 1.6 Billion shares of potential conversion to the common shares.
"This reduction of potential liability of over 1.6 Billion common shares should reassure shareholders that Andiamo is serious about its commitment to its common shareholders. Major shareholders have been asked to participate in voluntary share cancellations in order to increase stock value. This further illustrates the long term belief that our Preferred Shareholders have in our company and their hopes to see tremendous success for Andiamo. The Company will continue to seek opportunities to reduce our Issued and Outstanding stock in order to add value to the Company and build shareholder value," Commented Dustin Secor, CEO.
These cancellations will be reflected on the Company's next filing of July 31, 2012.
About Andiamo Corporation:
ActionApp is currently expanding their popular and profitable inventory of apps in rapid fashion across Apple and Android with a short term goal of 500 apps in their portfolio, with 1000 Apps set for a longer term goal. Action Apps has exceeded 16 million downloads.
Safe Harbor Statement at www.action-app.com/statement/