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Re: Blue Heron 1 post# 14032

Wednesday, 09/30/2015 11:19:47 AM

Wednesday, September 30, 2015 11:19:47 AM

Post# of 14097
From page 2 of the "Consent, Waiver and Modification Agreement" (further down in the 8-K):

"4. On or before fifty (50) days following the closing of the New Offering, the Company undertakes to effectuate a reverse split in the ratio of a range of one new Share of Common Stock for each outstanding two Shares of Common Stock up to one new share of Common Stock for each outstanding one thousand Shares of Common Stock, and to reserve on behalf of the Purchasers within one business day after the effectuation of the reverse split the amount of Common Stock necessary for the Company to comply with all reservation obligations owed to Purchasers."

Anywhere between 1:2 and 1:1000.

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