On August 29, 2013, the holder of 4,000,000 shares of the Company’s common stock (approximately 81.7%) approved the execution and filing of the Certificate of Amendment to, among other things, change the name of the Company from LIDO International, Corp. to HBP Energy Corp. (the “Name Change”).
It is expected that the Company’s new name will be declared effective by FINRA, for OTC trading purposes, in mid-September 2013. The name change will be accompanied by a new trading symbol and the Company will announce that symbol once it is approved by FINRA.
In addition to the name change, the Certificate of Amendment increases the Company’s authorized capital stock from 75,000,000 shares of common stock to 300,000,000 shares of common stock and from no shares of undesignated, “blank check” preferred stock to 10,000,000 shares of such preferred stock (the “Share Increase”). The par value of each of these classes of stock is $0.001 per share.
August 29, 2013 approved a 33.519553-for-1 forward stock split