Intellect Neurosciences Inc. (fka ILNS)

[wEaReLeGiOn]

Good heavens, it's right on the sticky note I posted from the ILNS SEC filing. The outstanding shares will be reduced, by a factor of 250 = 1, but the Authorized shares will remain at 5-BubbaBillion.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=105381014

SECOND: Article Fourth of the Corporation’s Certificate of Incorporation is hereby amended by deleting and replacing in its entirety the second (2nd) paragraph with the following paragraph:

Upon the effectiveness (the “Effective Time”) of this Certificate of Amendment to the Certificate of Incorporation of the Corporation with the Secretary of State of the State of Delaware, every two hundred and fifty (250) shares of Common Stock issued and outstanding immediately prior to the Effective Time shall, automatically and without any action on the part of the respective holders thereof, be combined and converted into one (1) share of Common Stock (the “Reverse Stock Split”). The number of authorized shares of Common Stock of the Corporation and the par value of the Common Stock shall remain as set forth in this Certificate of Incorporation, as amended. No fractional share shall be issued in connection with the foregoing combination. All fractional shares shall be rounded up to the next whole number of shares. The capital of the Corporation will not be reduced under or by reason of any amendment herein certified.


Well what occured a r/s and it sure in the heck was the wrong time to buy cause its down 75% if not more so I don't know what to think.

I figured we had about 3 to 5 billion fully diluted that means everything converted then after the r/s we would have about 20 to 25 million o/s.

If its 10 to 14 we going to have 40 to 52 million which is double.