Sunday, September 11, 2016 9:20:31 PM
Should be similar to the following:
"This excerpt taken from the VSCP DEF 14A filed Apr 10, 2009."
Our Series A Preferred Stock provides that in connection with a reverse split, the conversion rate in effect (830.36 shares of common stock per one share of Series A Preferred Stock) on the day following the day upon which such combination becomes effective shall be proportionately reduced, effective immediately after the reverse split becomes effective. Our Series B Preferred Stock provides that in connection with a reverse stock split the conversion price in effect immediately prior to the reverse stock split ($1.2043 per share), will be proportionally increased immediately after the reverse stock split becomes effective. The outstanding shares of Series A Preferred Stock and Series B Preferred Stock themselves will not be changed as the result of the split.
SO in our case the current 102,283,699 PREFERRED SHARES WILL STAY THE SAME-------------BUT-------
THEY TOO WILL HAVE A 'CONVERSION RATE OF 1 FOR 150'
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