Currently, EUPA has no shares on deposit that could be borrowed to support a legal short position.
EUPA is once again encouraging shareholders to demand delivery of their certificates to become registered shareholders.
These patent transfers should be an exceptional step toward increased profitability as these new patent holdings will reflect in greater overall net income for the company," stated Jacky Chang, Chief Financial Officer of EUPA International.
This will ultimately mean a hefty increase in the EBITDA for EUPA," Chang added.
This share re-purchase highlights the confidence the Tsann Kuen Group has in the operation of EUPA International," said a Company spokesperson.
The Company sees several key business partnerships and valuable new company acquisitions as an integral element of EUPA International's global business strategy.
Total revenues for EUPA
during the first five months of the year were approximately US$23.
In response, EUPA intends to take steps to counter the short sellers and restore investor confidence in its shares.
EUPA believes that this procedure will help stop the loaning of EUPA shares securities to persons or firms who engage in the perceived practice of short selling.
The Tsann Kuen Group is considering investing more capital into EUPA
for opening new "3C" retail stores across China.
The scope of these agreed- upon procedures has been determined solely by the EUPA
To conduct an On The Spot (Audit) After the Action ( OTS Audit ) to ensure that funds have been utilised in accordance with the EUPA
beneficiary contractual agreement.