UAV Corp (OTC: UMAV) Stock Surges As Company Further Reduces Authorized Shares to 500 Million

This morning most investors are expected to keep an eye on the stocks of those companies, which had been in the news cycle yesterday and hence, it may be a good time to take a closer look at UAV Corp (OTC: UMAV). The company hit the news wires yesterday following a fresh announcement with regards to its share structure.

Share Reduction

The company announced yesterday that it had been successful in reducing the number of its authorized shares, which was in line with the share reduction strategy announced on December 16, 2024. In the news release, UAV Corp announced that its Board of Directors had approved another reduction in the number of authorized shares by as much as 300 million. That led to the reduction of authorized shares from 800 million to 500 million.

Further Information

The reduction in the authorized shares came about after the shareholders had supported the company’s previous attempts at share reduction. In that particular effort, UAV Corp had managed to reduce the number of authorized shares by as much as 1.2 billion. That reduced the number of authorized shares to 800 million from 2 billion. The latest reduction was a demonstration of the company’s commitment to boosting shareholder value.

CEO Quote

“After seeing the appreciation from our shareholders regarding the initial reduction, we felt it was imperative to continue taking steps to enhance shareholder value,” said Michael Lawson, CEO of UAV Corp. “This further reduction reflects our dedication to disciplined financial management and our confidence in the Company’s long-term growth trajectory. We remain focused on operational excellence and innovative solutions to drive profitability.”