The purpose of the Information Statement is to notify our stockholders that on September 21, 2015, the Company received a joint written consent in lieu of a meeting (the “Joint Written Consent”) from the members of the Board of Directors (the “Board”) and the holders of no less than 51% of the issued and outstanding shares of our Common Stock (the “Majority Stockholders”) regarding the following items:
The granting of discretionary authority to our Board to implement a reverse stock split of our common stock at some time within twelve months of the Record Date, with the exact amount and time of the reverse split to be determined by the Board of Directors (the “Reverse Split”).
The increase in the authorized shares of common stock the Company is authorized to issue from 750,000,000 to 3,000,000,000 (the “Increase in Authorized Common”).
The change in the conversion rate of the Series C Convertible Preferred Stock from one share of common stock to five shares. http://ih.advfn.com/p.php?pid=nmona&article=69018231&symbol=JALA
The increase in the number of authorized shares of Series D Convertible Preferred Stock from 1,200,000 to 3,000,000 shares.