I actually went with worst case scenario and figured the OS to be much higher, but fortunately for us shareholders... it's not. This is very good for us shareholders. This means that some of the volume was retail trading back and forth between each other. This is a very solid OS for a .000s stock trading this low that is fully reporting and files audited financials with the SEC.
Also very good for us shareholders is the debt reduction/elimination confirmation and confirmation of a possible Accredited Investor and/or Institutional Investor being involved as indicated from the 8-K as of today, Jan 14, 2016 as indicated below: (Now I believe the increase in the Authorized Shares (AS) could be for reasons of growth.)
During the period commencing November 23, 2015 through January 14, 2016, the Company issued approximately 399,514,779 common shares to reduce debt on certain convertible promissory notes. The issued and outstanding common shares of the Company, at the beginning of the period commencing November 23, 2015, was approximately 371,887,192 shares, and for the period ending January 14, 2016 the issued and outstanding common shares of the Company was approximately 771,401,971. Exemption from Registration
The Company claims an exemption from the registration requirements of the Securities Act of 1933, as amended (the “Act”) for the private placement of these securities pursuant to Section 4(2) of the Act and/or Rule 506 of Regulation D promulgated thereunder since, among other things, the transaction does not involve a public offering, the Investor is an “accredited investor” and/or qualified institutional buyer, the Investor has access to information about the Company and its investment, the Investor will take the securities for investment and not resale, and the Company is taking appropriate measures to restrict the transfer of the securities.
Item 5.03 AMENDMENTS TO ARTICLES OF INCORPORATION OR BYLAWS; CHANGE IN FISCAL YEAR
On November 29, 2015, the Board of Directors of Reve Technologies, Inc. (the “Company”) approved by its consent to amend the Company’s Articles of Incorporation to increase the authorized capital stock which become effective December 28, 2015. Consenting shareholders owning a majority of the Company’s Common and Preferred Stock on November 29, 2015 approved for the filing of amendment to the Articles of Incorporation, to facilitate and insure compliance with various agreements and reserve requirements.
As a result of this filing, the Company’s Articles of Incorporation were amended to increase the total authorized capital stock from 1,000,000,000 shares to 5,000,000,000 shares consisting of (i) 4,990,000,000 shares of voting common stock, $0.001 par value per share, and (ii) 10,000,000 shares of preferred stock, $0.001 par value per shares, which remains unchanged. ...
Item 8.01 OTHER EVENTS
The Company from November 2015 to January 14, 2016 has initially secured approximately $28,100.01 from issuance of discounted convertible debentures, demand notes, and other borrowings from accredited, sophisticated and or institutional investor sources.
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