Trans-Pacific Aerospace Company Inc (OTCMKTS:TPAC) shares are trading up big today after the company released news of a share reduction, thus making currently outstanding shares potentially more valuable.
Trans-Pacific Aerospace Company Inc (OTCMKTS:TPAC) released an 8-k filing, stating:
“Effective December 16, 2015, the Company reduced the number of common shares of the Company outstanding by 703,200,002 common shares. These common shares are removed from the outstanding shares and the float, effective December 16, 2015.”
The stock is up 25.00% or $0.0002 following the news, hitting $0.001 per share. About 54.55M shares traded hands or up 2.12% from the average. TPAC has risen 100.00% since May 20, 2015 and is currently uptrending. It has outperformed the S&P500 by 102.26%.
Trans-Pacific Aerospace Company, Inc. is a development-stage company, which is engaged in the business of designing, manufacturing and selling aerospace component parts for commercial and military aircraft, space vehicles, power plants and surface and undersea vessels. The company has a market cap of $3.83 million. The Company’s product creates address over 3,000 component parts that are utilized in new and used commercial aircraft and military aircraft, space vehicles, power plants and surface and undersea vessels. It currently has negative earnings. As of October 31, 2014, the Company had not commenced commercial manufacture or sale of its products.