Branded Legacy Inc (OTC:BLEG) Stock Continues to Trend Lower
The trading week may be coming to a close, but investors are going to continue to hunt for stocks this morning, just like on any other day. One of the stocks that could come on the radar of investors today is Branded Legacy Inc. (OTC:BLEG), owing to a key announcement from the company on Thursday. The company announced a major new enhancement that could go a long way toward boosting shareholder value.
Branded Legacy announced that it had been successful in retiring as many as 1 billion common shares through the week, bringing the total number of retired shares to as many as 1.6 billion. The company had previously been successful in retiring 600 million shares. Branded Legacy called it a momentous achievement in its strategic aim to create long-term value for its shareholders. The company noted in its news release that the move also demonstrated the dedication of the company towards bringing about sustainable growth for its shareholders.
The Chief Executive Officer of the company, David Oswald, spoke about the development as well. He noted that the retirement of 1 billion shares was a decisive step for the company in service of its shareholders. He went on to note that everyone at the company believed wholeheartedly in the strength of the company’s brand and potential. The latest action was an illustration of the company’s resolve to strengthen Branded Legacy’s position in its industry.
However, it also demonstrated that Branded Legacy not only had a strong foundation but also the wherewithal to fuel its growth while boosting shareholder value. In the news release, the company also pointed out that it remained committed to its core mission related to the development of innovative products and services that could lead to a sustainable and healthier future for everyone.
In this context, it could be a good idea if investors took a look at the developments from October 3, when the biotech company made a major announcement. It was revealed at the time that Branded Legacy took a major step in a positive direction with a major expansion at its facility in Melbourne, Florida, which was expanded to as much as 11000 square feet.
The company noted at the time that the expansion was also a demonstration of its commitment to quality and innovation, among other positive attributes. The expansion would allow the company to considerably expand its production capabilities, provide a wider array of services, and also take advantage of new opportunities. The company revealed that the space of the facility had been increased to 11000 square feet from only 5000 square feet.
The expansion had been made to account for 2500 square feet of office space and 3450 square feet for the purpose of a designated lab as well as warehouse space. In the news release, it was noted that the fresh office space would be meant for the growing operational needs of Branded Legacy and for providing space for a captive B2B networking and business development team.
