Thursday, February 23, 2017 3:26:11 AM
27, 2017, which we will refer to as the "effective date."
(1) to increase the authorized Common Stock of the Company to 500,000,000 shares,
(2) to increase the authorized Preferred Stock of the Company to 50,000,000 shares,
(3) to effectuate a reverse stock split (prorata decrease) of our issued and outstanding shares of Common Stock in the discretion of our Board of Directors in a ratio of up to 10for1 and
(4) to change the name of the Company to “MariMed Inc.”
POTENTIAL FUTURE ACTIVITIES
We are currently contemplating
(i) selling back to Worlds Inc. or spinning out into a new entity the license we currently have to Worlds Inc.’s 3D technology and its proprietary know how and becoming a purely cannabis related enterprise,
(ii) issuing a significant amount of stock to acquire the remaining 49% of MariMed Advisors Inc. and (iii) issuing a currently indeterminate number of shares to raise $10M+ in new financing, which sales could possibly be made at anytime after the date hereof. No assurance can be given that these contemplated plans will come to fruition.
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