Making headlines was The Blackhawk Fund, which announced the reduction of 1 Billion authorized shares of the company’s common stock. The Board of Directors unanimously voted in favor of reducing BlackHawk’s authorized shares from 4 Billion to 3 Billion shares in an effort to deliver shareholder appreciation.
At the current time, the company’s majority shareholder controls the equivalent of 2 billion shares as Preferred B stock, which are affiliate restricted shares that cannot be sold into the market. BlackHawk’s reduction in stock is an effort to recapitalize the Company in a manner that will yield price appreciation as business grows. The Blackhawk Fund has recently announced the launch of a nationwide radio program that should provide additional revenue.
Earlier this year BlackHawk was also in the news for its financial performance. The company had a 207% increase in revenue year over year from 2006 to 2007. The company believes the increase in revenue will continue through 2008 as the business model is refined and a larger audience is reached through the expansion of the nationwide radio show.
The Blackhawk Fund is a business development company with interest in real estate development projects, as well as in media and television production in the United States. Originally founded in 1998 as USA Telecom, they own, operate, manage and implement proprietary media properties that primarily include network quality cable television shows, which are converted to online video magazines and DVDs.
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