Quote:
"Thank you for your loyalty and support. As mentioned, this is only the beginning.
"Regarding the reduction in A/S. It is not a typo, however, it is not our intention to leave it at 1B either, as such we had our attorneys draft the proxy question in a way that would allow the Board to reduce it again without having to seek shareholder vote. The reason why we could only reduce to 1B at the current time is existing reserves that can’t be adjusted until the R/S takes effect. Once all reserves are adjusted or hopefully removed because the mezzanine financing is replaced with traditional institutional equity financing, the Board is committed to further reducing the A/S in such that the Company will have the proper number of A/S for future institutional equity raises and issuances associated with up-listing.
Our objective is being listed on Nasdaq, that is why we engage MSK Law, and are working to positon the company appropriately."
William Waldrop
