First Guardian to Slash Authorized Shares

First Guardian Financial Corp., a New York-based provider of commercial real estate financing, has reported the adoption of a board resolution to reduce the company's authorized shares of common stock by 320 million shares.The reduction will lower the number of First Guardian's authorized common shares to 200 million. "The company has taken this share restructuring to increase the value of our share price, as we believe that the company at this point is extremely undervalued and does not reflect the true value/market cap," said company president Abraham Rosenman. The company can be found on the Web at http://www.guardianfinancialcorp.com.