REAC, 1,000 to 1, July 1
On June 10, 2014, the Board of Directors approved decreasing the authorized capital of the Company from Fifty Billion (50,000,000,000) Shares to Fifty Million (50,000,000) shares (a 1,000 to 1 reverse stock split). Common and Preferred shares are to be reduced accordingly. The effective date of the reverse split is July 1, 2014.
Accordingly, on July 1, 2014, the total authorized capital of the Company will be comprised of forty nine million nine hundred thousand (49,900,000) shares of common stock, par value $0.00001 per share; ten thousand (10,000) shares of Preferred Stock, Series A, par value $0.0001 per share; and ninety thousand (90,000) shares of Preferred Stock, Series B, par value $0.001 per share.
Each shareholder’s holdings will decrease by 1,000, but their percentage ownership in the Company shall remain the same. All fractional shares will be rounded up with no shareholder holding less than 1 share.
