The Reverse Split
The proposal to consolidate the Company’s Common Shares on a ratio of one (1) new Common Share for every one thousand (1,000) existing Common Shares, from a total of 367,682,745 issued and outstanding Common Shares to approximately 367,6823 issued and outstanding Common Shares, with all fractional shares to be increased to the nearest whole Common Share, was approved by the holders of a majority of the Company’s issued and outstanding Common Shares entitled to vote on November 20, 2014. The vote required for approval was 50% plus one share of the Common Shares entitled to vote, plus one vote. The actual affirmative vote was 54.23% of all issued and outstanding Common Shares.
Therefore, following the expiration of the twenty-day (20) period mandated by Rule 14c, our corporation will file Articles of Amendment to amend our Articles of Incorporation to give effect to the afore-mentioned corporate actions. We will not file the Articles of Amendment to our Articles of Incorporation until at least twenty (20) days after the filing and mailing of this Information Statement.
The Company is not requiring a mandatory exchange of share certificates. Shareholders, may, if they wish transmit the certificates representing old Common Shares to the Company’s transfer agent, Signature Stock Transfer Inc. of 2632 Coachlight Court, Plano, Texas, 75093, Telephone: (972) 612-4120 (the “Transfer Agent”) in exchange for certificates representing the appropriate number of whole shares of new Common Shares. Service charges may be payable by holders of Common Shares in connection with the exchange of certificates.
On the Record Date, there were 367,682,745 Common Shares of the Company issued and outstanding.
