On October 24, 2014, the Board of Directors of the Company (“Board”) approved the Reverse Stock Split and the Authorized Share Increase and recommended approval thereof to the Majority Stockholder. On October 24, 2014, the Majority Stockholder approved the Reverse Stock Split and the Authorized Share Increase by written consent in lieu of a meeting in accordance with Delaware General Corporation Law (“DGCL”). Accordingly, your consent is not required and is not being solicited in connection with the approval of the Reverse Stock Split or the Authorized Share Increase.
We anticipate that we will mail the Notice of Stockholder Action by Written Consent to the Company’s stockholders on or about November ___, 2014.
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