LIG Assets Inc (LIGA)

[shihah22]

Love this portion from the January 5 press release:

New and Revised Board Resolutions signed January 4, 2017:

1. We resolve to reduce the conversion rate of entire 50 million shares of Preferred Stock. The previous conversion rate was one share of Preferred would convert to 50 shares of common stock. Now, the conversion rate will be one share of Preferred stock converts to one share of common stock. The cancellation in potential issuance of nearly 2.5 billion shares now protects the current share structure from massive dilution.
2. We now resolve that each share of Preferred Stock will have one voting share, the same that is set for each share of common stock.
3. We resolve that the total authorized common share count will not increase above the current level of 2.4 billion shares for at least three years or December 31, 2019 unless the common stock share price trades above .05 per share for at least 30 calendar days.
4. We resolve that no reverse split of LIGA common stock will occur before December 31, 2019 unless the common stock trades above .05 per share for at least 30 calendar days.
5. We resolve that no additional classes of any stock preferred or otherwise be issued for at least three years or December 31, 2019.
6. We resolve that any funding of the Company must occur through debt issuances, project based financing, or through the small balance of common stock that has not been issued.

$LIGA