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Saturday, December 10, 2016 9:34:24 PM
"Within 90 days of Original Issuance Date of this Note, the Company shall use its best efforts to obtain shareholder approval and file a Certificate of Amendment to its Articles of Incorporation to effectuate a reverse stock split or increase its authorized capital in order to permit the exercise and/or conversion of all of the Company’s outstanding securities into shares of Common Stock including securities owed to holders pursuant to anti-dilution protection (the “ Charter Amendment ”) and an additional number of shares as may be determined by the Company."
As far as option #1, the reverse split is concerned, it seems to my feeble mind that if you wanted to issue additional shares to raise money you might conduct a reverse stock split so as to reduce the number of outstanding common shares, thereby increasing their individual value while not affecting the total bottom line, then issue new shares at the new pricing.
As far as the "increase it's authorized capitol" option is concerned, I'm not knowledgeable enough in this terminology to make a guess at the thinking.
Anybody have any opinions on this?
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