Absolute Glass Protection, Inc. announces that it has deregistered 400,000 shares of common stock. On May 6, 2003, Absolute Glass Protection, Inc. filed a Post-Effective Amendment No. 1 to Form S-8 Registration Statement (previously filed on March 11, 2003).
Initially, 500,000 shares of common stock were issued to T.J. Jesky, a consultant, in consideration for his services to Absolute Glass Protection, Inc. Last week the Company reached an understanding with the consultant to return 400,000 shares of the 500,000 initially issued shares. The Company agreed to pay the consultant for his continued services on a cash basis.
The President of the Company, John Dean Harper received confirmation from the Company's transfer agent, Pacific Stock Transfer on Monday, May 5,2003 that the 400,000 shares had been canceled and returned to the Company's treasury. Absolute Glass Protection, Inc. believes that this deregistration and agreement are in the best interest of the Company and its shareholders.