The present capital structure of the Company authorizes 30,000,000 shares of Common Stock. As of the Record Date, there were 15,175,456 shares outstanding, in excess of 11,000,000 of which are held by five stockholders. In order to provide greater liquidity for the Common Stock, the Board of Directors deem it advisable to forward split the outstanding shares of Common Stock on a four-for-one basis. That means that for each share of Common Stock held on the effective date of the split, a stockholder will receive three additional shares of Common Stock. Upon the effectiveness of the forward split, the Company will have 60,701,824 shares of Common Stock outstanding. In order to accommodate this increase in outstanding shares of Common Stock, the Board of Directors deems it advisable to increase the number of authorized shared of Common Stock from 30,000,000 to 100,000,000. Therefore, the Board of Directors has approved the amendment of the Company's Certificate of Incorporation (the "Certificate") to increase the authorized number of shares of Common Stock from 30,000,000 to 100,000,000 shares, and to effect the four-for-one forward split. The Board of Directors believes that the proposed capital structure more appropriately reflects the present and future needs of the Company and recommends such amendment to the Company's stockholders for adoption. Other than for issuance in connection with the proposed stock split, the Company has no plans, arrangements or understandings for the issuance of any additional shares of Common Stock.
President/ CEO & Director Amar Bahadoorsingh, B.A., MBA Amar Bahadoorsingh will be appointed President and CEO of Cirus Telecom Inc. Mr. Bahadoorsingh was the president of 9278 Communications, Inc., a $120,000,000 US annual sales, telecom provider, and was responsible for its merger with iLink Telecom, Inc. a company which the founded and took public via a reverse merger on the OTC BB. Within his two years as the President of 9278 Communications, Inc. and President and CEO of iLink Telecom, Inc helped secure millions of dollars in debt and equity financing for both the companies. 9278 reached a market capitalization of over $100,000,000 US under his tenure. In conjunction with those functions, he managed all securities aspects of the corporations including SEC filings and NASD compliance, as well as overseeing the marketing and investor relations. He also created a management infrastructure that integrated all sectors of the company, as well as ensured the critical marketing plan was fulfilled and the ongoing capital requirements were met.
Mr. Bahadoorsingh holds a Bachelor of Arts degree in Sociology from the University of Western Ontario located in London, Ontario, Canada and a Master's of Business Administration degree from Queen's University, located in Kingston, Ontario, Canada, with a focus on management and marketing strategy.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.