Proxy Statement - Other Information (preliminary) (pre 14c)
Date : 04/25/2017 @ 6:08AM
So Yates takes over control no need to think the shareholders mean anything anymore. :(
AMENDMENT TO OUR ARTICLES OF INCORPORATION TO INCREASE AUTHORIZED SHARES
The Authorized Increase Amendment is being sought to enhance corporate flexibility and to advance the Company’s business plan. Similarly, we believe that for us to successfully execute our business strategy we may need to raise investment capital and it may be preferable or necessary to issue and sell additional shares of our common stock to raise such capital, and/or to retain key personnel. Accordingly, in order to grant us the flexibility to issue our equity securities in the manner best suited for our Company, or as may be required by the capital markets, the Authorized Increase Amendment will increase the authorized shares of common stock to 5,000,000,000 shares. As of April 24, 2017 the Company did not have any definitive agreements, plans, proposals, or arrangements, written or otherwise, to issue shares of its common stock (aside from certain obligations to issue conversion shares pursuant to the terms of certain Convertible Notes outstanding, the details of which have been previously reported on Form 8K).
The Company is authorized to issue 1,000,000 shares of preferred stock. The amendment to increase the authorized shares of common stock would not affect the number of preferred shares the Company is authorized to issue.
This is sweet! Yates knows what is best for all you shareholders!
DISSENTERS’ RIGHTS
There are no dissenters’ rights applicable with respect to the amendments to our Articles of Incorporation.
AI
