News

100 million Automated-X shares retired

Automated-X Inc., a Salt Lake City-based automation technology company, announced that two majority shareholders have retired 100 million shares each of restricted stock.

January 27, 2015

Automated-X Inc., a Salt Lake City-based company that develops and integrates next-generation automated technologies, including kiosks, into retail store environments, announced that two majority shareholders have retired 100 million shares each of restricted stock.

The retirement of shares will allow Automated-X "to have a more cohesive capital structure and valuation that will position the company for expansion and growth," the company said in a statement.

"Our goal is to continue the methodical development of our company, protect the integrity of the stock structure, and build shareholder value. The retirement of this stock reduced the total issued and outstanding shares to 114,669,205 shares, significantly increasing the ownership percentage of the company's public shareholders," said Tim Regnier, president and COO, in the announcement.