Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Effective December 15, 2014 (the “Effective Date”), the Registrant amended its Articles of Incorporation filed with the State of Nevada to effect a reverse split of its common stock such that each 10 shares of the Registrant’s common stock issued and outstanding immediately prior to the Effective Date shall be combined into 1 share of the Registrant’s common stock (the “Reverse Stock Split”). No fractional shares shall be issued to any shareholder and, instead of issuing fractional shares, the Registrant shall round shares up to the nearest whole number. There shall be no change to the Registrant’s authorized number of shares and the conversion rate of any preferred stock, convertible debt, and warrants issued by the Registrant shall be adjustemd to reflect the Reverse Stock Split.
The Financial Industry Regulatory Association (“FINRA”) reviewed the Notice of Corporate Action filed by Registrant regarding the Reverse Stock Split and reported the change on its Daily List of changes on December 19, 2014, effective at the open of business on December 22, 2014. The Registrant’s trading symbol on the OTC BB market shall be changed from MKHD to MKHDD for a period of 20 business days, in accordance with FINRA’s normal practice.
After the period of 20 business days expires, the Registrant shall change its trading symbol to CYBG.
