MDCE / Infinite Auctions Reduces Outstanding Shares by 33% and Launches 6-Figure Historic Michael Jordan Shoe Collection Auction!

Rhea-AI Summary

Medical Care Technologies/Infinite Auctions (MDCE) has announced a significant reduction in outstanding shares, cutting them from 3,029,575,220 to 2,029,575,220 by returning 1 billion restricted shares to treasury. This follows a previous reduction of 200 million shares in October 2024.

The company's market cap has decreased from $6,816,544 to $4,668,023 at $0.0023 per share, resulting in increased per-share value. The company notes its inventory value is estimated at nearly double the current market cap.

Additionally, Infinite Auctions is launching an auction featuring rare Michael Jordan memorabilia, including 1985-86 game-worn OG Air Jordan I sneakers, shoes from his 64-point game in 1992-93, and photo-matched baseball cleats. The auction runs from January 8 to February 8, 2025.

Positive

• 33% reduction in outstanding shares (1 billion shares returned to treasury)
• Company's inventory value reportedly worth double the current market cap
• Previous share reduction of 200 million shares completed in October 2024

Negative

• Market cap decreased from $6.8M to $4.7M

MESA, Ariz., Jan. 8, 2025 /PRNewswire/ -- Medical Care Technologies Inc. / Infinite Auctions (OTC PINK: MDCE) is pleased to announce a significant reduction in its outstanding shares, marking another milestone in our ongoing commitment to maximizing shareholder value. The current outstanding share count has been reduced from 3,029,575,220 to 2,029,575,220 shares. This reduction was achieved by returning 1,000,000,000 restricted shares from the outstanding share pool back to treasury. This move follows a similar reduction on October 17, 2024, when 200,000,000 shares were also returned to treasury.

Increased Shareholder Value Through Reduced Market Cap

As of the close on January 7, 2024, with a share price of $0.0023, the company's market cap stood at $6,816,544. Following the reduction of 1,000,000,000 outstanding shares, the new market cap is recalculated at $4,668,023, resulting in a substantial increase in per-share value. This enhancement is further underscored by the company's tangible value with it's inventory alone having an estimated current market value worth almost double the current market cap.

Iconic 6-Figure Michael Jordan Shoe Collection Featured in our Current Auction

Infinite Auctions is thrilled to present a once-in-a-lifetime opportunity for collectors and enthusiasts with an unparalleled lineup of iconic Michael Jordan game-worn sneakers. This historic auction will feature Jordan's 1985-86 Game-Worn OG Air Jordan I sneakers, famously worn during his final NBA game of that season, a pair of sneakers worn during his legendary 64-point game from the 1992-93 season, and an ultra-rare, photo-matched pair of baseball cleats from his time pursuing a professional baseball career. These incredible items represent the pinnacle of sports memorabilia and provide a chance to own a piece of Michael Jordan's extraordinary legacy. Bidding opens January 8 and closes February 8—don't miss out on this extraordinary event!

Visit www.infiniteauctions.com to view the auction.

About Medical Care Technologies Inc. / Infinite Auctions

Medical Care Technologies Inc. / Infinite Auctions is an online auction platform that specializes in high-end sports memorabilia, collectibles, and investment-grade assets. The company's mission is to assist sellers and offer bidders unique, valuable items through both public auctions and private sales.

Safe Harbor Statement

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimates," "projects," "intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated.

Contact Information:
https://www.infiniteauctions.com
https://x.com/sportsauction1

https://instagram/infiniteauctions
info@infiniteauctions.com

Source: Medical Care Technologies Inc. / Infinite Auctions LLC. (OTC PINK: MDCE)

View original content to download multimedia:https://www.prnewswire.com/news-releases/mdce--infinite-auctions-reduces-outstanding-shares-by-33-and-launches-6-figure-historic-michael-jordan-shoe-collection-auction-302345607.html

SOURCE Medical Care Technologies Inc. / Infinite Auctions LLC (OTC PINK: MDCE)

FAQ

How many shares did MDCE reduce from its outstanding share count in January 2025?

MDCE reduced its outstanding shares by 1 billion shares, from 3,029,575,220 to 2,029,575,220, representing a 33% reduction.

What is MDCE's new market cap after the January 2025 share reduction?

Following the share reduction, MDCE's market cap decreased to $4,668,023 at $0.0023 per share.

What significant Michael Jordan items is MDCE auctioning in January-February 2025?

MDCE is auctioning 1985-86 game-worn OG Air Jordan I sneakers, shoes from his 64-point game in 1992-93, and photo-matched baseball cleats.

When does MDCE's Michael Jordan memorabilia auction run?

The auction runs from January 8 to February 8, 2025.

How does MDCE's inventory value compare to its current market cap?

According to the company, its inventory value is estimated at almost double the current market cap of $4.7M.