4D Seismic to Begin Repurchase of Stock
4D Seismic, Inc. (Other OTC: FDSM) will start repurchasing its shares in the open market in the month of September. In a June meeting, the Board of Directors approved a plan to purchase of up to 12.5% of the outstanding free trading shares at a share price up to $3.00. Wachovia Securities is acting as the broker for the repurchasing program.
New machinery scheduled for purchase in the third quarter has been postponed due to excellent maintenance and greater than adequate equipment to complete current projects. This has allowed the excess budgeted cash to be held for acquisitions or redirected to the stock repurchase program.
The subcommittee that was impaneled to investigate forming a strategic alliance for identifying technologies opportunities and acquisitions has not completed its work and their report was tabled until the October Board meeting.