Company filed a Certificate of Amendment on September 17, 2015
FORM 8-K Date of Report: August 31, 2015
The Company was unable to pay the BML fees payable to the State of Nevada due on August 31, 2015, and we're therefore required to relinquish the interest in the Silver Cloud Property to the Pescio family.
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
On September 17, 2015, filed a Certificate of Amendment (the “Certificate”) with the Secretary of State of the State of Nevada to effect a reverse stock split of its authorized and outstanding shares of common stock at a ratio of 1 for 1,000 (the “Stock Split”).
The Stock Split was previously approved by the board of directors of the Company.
The Stock Split will become effective upon receipt of the necessary documentation regarding the Stock Split and approval by the Financial Industry Regulatory Authority ("FINRA").
Upon the effectiveness of the Stock Split, the Company’s issued and outstanding shares of common stock will decrease from approximately 1.99 billion shares to approximately 1.99 million shares of common stock, par value of $0.001 per share.
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