Monday, December 10, 2018 11:26:12 AM
Note 12 - SUBSEQUENT EVENTS (continued)
Reverse split
On August 29, 2018, the Company received (i) a written consent in lieu of a meeting of Stockholders (the “Written Consent”) from holders of shares of voting securities representing approximately 60% of the total issued and outstanding shares of voting stock of the Company; and (ii) a unanimous written consent of the Board to approve to effect a reverse stock split of the Company’s common stock at a ratio of 1 for 50, such ratio resultant in the company’s existing 88,089,867 shares of common stock outstanding to be reduced to 1,761,798 shares of common stock. As of the date of these financial statements, the Company had not effected the reverse stock split of common stock.
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