Of course .... Next move is Reverse Split after Authorized Share Increase of 7,000,000,000 common shares.... To the Holders of Common Stock of Oncologix Tech, Inc.:
This Information Statement has been filed with the Securities and Exchange Commission and is being furnished, pursuant to Section 14C of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), to the holders (the “Common Stockholders”) of Common Stock, par value $.0001 per share (the “Common Stock”), of Oncologix Tech, Inc., a Nevada corporation (the “ Company”), to notify such Common Stockholders that on October 15, 2016, the Company received a unanimous written consent in lieu of a meeting of the holder of Series C Preferred Stock, par value $.0001 per share (the “ Series C Preferred “). The 100,000 shares of Series C Preferred have the equivalent of fifty-one percent (51%) of the votes of all outstanding Common and Preferred Stock. Currently, there are two holders of Series C Preferred (the “Series C Stockholders”), holding all 100,000 shares of Series C Preferred, resulting in the Series C Stockholders holding in the aggregate 51% of the total voting power of all issued and outstanding voting capital of the Company (the “Majority Stockholders”). The Majority Stockholders authorized the following:
The increase in the number of authorized shares of Common Stock from seven hundred fifty million (750,000,000) shares of Common Stock to seven billion (7,000,000,000) shares of Common Stock (the “Authorized Share Increase”);
We have attached as Appendix A hereto a form of the proposed amendment to the Articles of Incorporation, the increase in authorized shares of common stock to seven billion.
On October 15, 2016, the Board of Directors of the Company (the “Board”) approved, and recommended for approval to the holders having the power to vote with respect to the Common Stock, the Authorized Share Increase (the “Action”). On October 15, 2016, the Majority Stockholders0. approved the Action by written consent in lieu of a meeting in accordance with the Nevada Corporation Law. Accordingly, your consent is not required and is not being solicited in connection with the approval of the Action.
We will mail the Notice to the Common Stockholders on or about February 3, 2017. The Company anticipates that the Amendment will become effective on or about February 24, 2017.
