Sometimes, it’s a clerical error, and sometimes it IS the fault of the government.
So it was that Charlotte, North Carolina-based XSport Global, Inc. (OTC:XSPT) discovered on this week, that the Wyoming Secretary of State had inadvertently entered the wrong number of shares of the Company’s authorized common stock.
It seems the state secretary’s website indicated that the Company had authorized an amendment to increase the number of shares of common stock to six trillion shares. However, this was a clerical input mistake made by the Secretary of State which immediately fixed the error to the correct number the Company had, in fact, authorized five billion.
XSPT is reassuring its shareholders that it did not authorize an increase that high and immediately took steps to ensure the correct capitalization was showing on the Secretary of State’s website.
XSport Global is a leading youth and collegiate sports technology and media holding company focused on developing disruptive sports-centric technologies and related media projects around the world
As for the shares which are trading, XSPT’s were going for 36-100ths of a cent, or 63.6% higher, on volume topping 16.1 million shares.