Newport Digital Technologies, Inc. (NPDT) Announces Restructuring Plan
Today before the opening bell, Newport Digital Technologies, Inc. announced a comprehensive restructuring plan that includes seeking shareholder approval to increase its authorized shares in order to raise the capital necessary for the full execution of the Company's business plan. Newport Digital will be holding a shareholders meeting on December 5, 2011, to request approval. Shareholders will be able to vote via the Internet for their convenience. The Company intends to complete a private placement and a reverse stock split to create a more suitable capital structure if shareholders approve an increase in authorized shares. NPDT CEO Don Danks said,…