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Wednesday, December 23, 2015 4:00:23 PM
Told you it was coming.
On 12/15/15, Basu filed Articles of Amendment with the Florida Department of State that will:
1) Implement a 1:100 reverse split of the common stock, to roughly 40.4M shares
2) Change the number of Authorized Shares to 5B from 20B
3) Reduce the number of authorized Class B shares to 2000, from 50M
There is no mention of the Class E, but I assume they won't reverse (after all, there is only 5000 of them, per the recent quarterly report).
Here's a screen grab from the document:
Link to the amendment: http://bit.ly/1khHj8I
I wrote on Dec 4, during the paid awareness campaign, that I expected that the next big news would be a reverse split, and I was correct:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=118932680
Some laughed at my prediction, but it appears that there will be a 1:100 reverse by the end of January, 2016.
I guess that I am in Basu's head:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=118947630
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