Des Plaines, IL (PressExposure) October 19, 2009 -- 141 Capital, Inc (OTCPK: ONCP). 141 Capital announced today that 141 Futures, LLC, a limited liability company, that was owned by the principals of 141 Capital, Inc. has returned 10,141 shares of 141 Capital's Series "A" Convertible Preferred Stock to 141 Capital. In addition, the Board of Directors cancelled an additional 200,000 shares of Series "A" Preferred. The Preferred Stock contributed and cancelled will be returned to 141's treasury.
Errol Stone stated, "The contribution and cancellation of these Series "A" Preferred shares represents tangible value to our shareholders. If all of the 210,141 preferred shares were converted into 141Capital's common stock on September 30, 2009, the Company would have been obligated to issue 550,811,833 shares of common stock to 141 Futures and others."