The enclosed Information Statement is being furnished to all holders of record of shares of our common stock, par value $0.001, on September 23, 2011. The purpose of the Information Statement is to notify our stockholders of record that a resolution of our board of directors approving a 1-for-30 reverse split of our common stock has been approved by stockholders holding a majority of the voting power.
When will the Reverse Split be effective?
A:
The corporate action represented by the Reverse Split will become effective upon the filing with the Nevada Secretary of State of the Certificate of Change Pursuant to NRS 78.209 setting forth the details of the Reverse Split. In accordance with the federal securities laws, the Information Statement must be sent or given at least 20 calendar days before the earliest date on which the corporate action may be taken. We anticipate that the Reverse Split will actually be effective and implemented by FINRA on or about December __, 2011.
Reasons for the Reverse Split
Our board of directors authorized the Reverse Split with a view to increasing the per share trading price of our common stock. An increased price per share could allow a broader range of institutions to invest in our stock, potentially increasing marketability, trading volume, and liquidity of our common stock. We also believe that the Reverse Split may make it easier for us to structure future acquisitions, although we currently have no specific acquisitions in mind.
