Monday, June 08, 2015 7:58:13 PM
The Series B Stockholder authorized the following:
The increase in the number of authorized shares of Common Stock from four hundred million (400,000,000) shares of Common Stock to ten billion (10,000,000,000) shares of Common Stock (the “Authorized Share Increase”).
On December 4, 2014, the Board approved the Authorized Share Increase and recommended to the Majority Stockholder that he approve such matter. On December 4, 2014, the Majority Stockholder approved the Authorized Share Increase by written consent in lieu of a meeting, in accordance with Nevada law. Accordingly, your consent is not required and is not being solicited in connection with the approval of the Authorized Share Increase. The Board believes that the Authorized Share Increase is necessary and advisable in order to provide the Company with the required number of common shares necessary to consummate the “Merger”, as defined below, to provide the necessary number of common shares to maintain the Company’s financing and capital raising ability and to generally maintain our flexibility in today’s competitive and rapidly changing environment. Accordingly, it is the Board’s opinion that the Authorized Share Increase would better position the Company to consummate the Merger, afford the Company greater flexibility in considering, structuring and consummating potential future acquisitions or financing.
http://www.sec.gov/Archives/edgar/data/1301367/000157104914007051/t77538_pre14c.htm
The increase in the number of authorized shares of Common Stock from four hundred million (400,000,000) shares of Common Stock to ten billion (10,000,000,000) shares of Common Stock (the “Authorized Share Increase”).
On December 4, 2014, the Board approved the Authorized Share Increase and recommended to the Majority Stockholder that he approve such matter. On December 4, 2014, the Majority Stockholder approved the Authorized Share Increase by written consent in lieu of a meeting, in accordance with Nevada law. Accordingly, your consent is not required and is not being solicited in connection with the approval of the Authorized Share Increase. The Board believes that the Authorized Share Increase is necessary and advisable in order to provide the Company with the required number of common shares necessary to consummate the “Merger”, as defined below, to provide the necessary number of common shares to maintain the Company’s financing and capital raising ability and to generally maintain our flexibility in today’s competitive and rapidly changing environment. Accordingly, it is the Board’s opinion that the Authorized Share Increase would better position the Company to consummate the Merger, afford the Company greater flexibility in considering, structuring and consummating potential future acquisitions or financing.
http://www.sec.gov/Archives/edgar/data/1301367/000157104914007051/t77538_pre14c.htm
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