Reverse Splits

[e-ore]

COTE - R/S possible here. From DEF 14C filed 3/12

"To Our Stockholders:

We are writing to advise you that certain common and preferred stockholders, owning approximately 83.5% of combined voting power of the common and preferred stock, by written consent in lieu of a stockholders' meeting have approved (1) the authorization in advance for the board of directors to declare at some indefinite point in the future a reverse stock split at such time as the board of directors determines in its sole discretion, is appropriate, at an exchange ratio to be selected by the board of directors which shall be in the range of from not less 1-for-5 and not more than 1-for-200, while maintaining the current amount of shares of common stock and preferred stock that are presently authorized (“the Reverse Stock Split”) and (2) the Company’s 2014 Stock Option and Incentive Plan which was previously adopted by the board of directors on May 30, 2014.

The purpose of the majority stockholder action regarding the reverse stock split was to keep all options open and enable the Company to declare a reverse stock split at some indefinite point in the future, if, and only if, the board of directors determines that the market and other conditions for the Company have improved to the point that the reverse stock split is more likely to achieve the intended objectives for such a reverse stock split. We obtained shareholder approval and filed this Information Statement regarding the Reverse Stock Split at this time in order to allow the Company to more quickly enact the Reverse Stock Split when the conditions and timing are optimal."