InterCloud Systems Inc. (ICLD)

[thegreatwazoo]

General Description of Corporate Action

 

On December 5, 2017, the Majority Stockholders delivered an executed written consent in lieu of a special meeting authorizing and approving an amendment to our Certificate of Incorporation (the “Amendment”) to effect a reverse stock split of all outstanding shares of our Common Stock, at an exchange ratio of up to one-for-One Hundred (1:100) shares (the “Reverse Split”), with the Board maintaining the discretion of whether or not to implement the Reverse Split and at which exchange ratio to implement the Reverse Split.

 

On December 5, 2017, the Board unanimously approved the Amendment and the Reverse Split. The Board will effect the Reverse Split, if at all, by filing the Amendment with the Delaware Secretary of State, which will occur no sooner than 20 calendar days after the date this Information Statement has been mailed to stockholders.  After such 20-day period, the Board has the authority to effect the Reverse Split at any time prior to the one-year anniversary of the date of the written consent of the Majority Stockholders. A form of the Amendment to the Certificate of Incorporation is attached to this Information Statement as Appendix A .  No further action on the part of our stockholders is required to authorize or effect the Reverse Split.