Friday, July 21, 2006 8:16:04 PM
PRER14C Acc-no: 0001164150-06-000168 2006-07-19
8-K Acc-no: 0001164150-06-000167 2006-07-19
From the 14C:
The Amendment to the Company's Certificate of Incorporation amended the number of shares of stock that the Company shall be authorized to have outstanding at any time shall be (i) three hundred million (300,000,000) shares of common stock at par value of $0.001 with no preemptive rights. The form of
Certificate of Amendment that will be filed with the Texas Secretary of State is
attached hereto as Exhibit A.
and
APPROVAL OF 1-FOR-10 REVERSE STOCK SPLIT
General
The 1-for-10 reverse stock split of our Common Stock was adopted, subject to stockholder approval, by the Company's Board of Directors on April 11, 2006. Upon the effectuation of this reverse stock split, each ten (10) shares of our Common Stock will be converted automatically into one (1) share of Common Stock.
To avoid the issuance of fractional shares of Common Stock, the Company will issue an additional share to all holders of a fractional share.
Shareholder approval for a reverse stock split of the Company's common stock is valid for one year following the date of such approval.
Hope this helps!
RedCloud
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