ToughBuilt Industries Inc (TBLT)

[Raffis]

There will not be a reverse split any time soon.

Any reverse stock split will not be implemented before the date indicated after the shareholder meeting "on or before, December 31, 2021. Read below from link: And please post a screenshot of it on StockTwits.

https://seekingalpha.com/filing/4469997:

NOTICE OF ANNUAL MEETING OF SHAREHOLDERS

The 2019 annual meeting of shareholders (the “Annual Meeting”) of ToughBuilt Industries, Inc. (the “Company”) will be held at the Company’s corporate offices at 25371 Commercentre Drive, Suite 200, Lake Forest, CA 92630, on June 7, 2019, beginning at 4:00 PM local time. At the Annual Meeting, the holders of the Company’s outstanding common stock will act on the following matters:


1. To elect five directors for a one-year term expiring in 2020.

2. To grant the Board of Directors the authority to increase its shares of authorized common stock from 100,000,000 to 200,000,000.

3.To grant the Board of Directors discretionary authority to effect a reverse split of the Company’s issued and outstanding stock in a ratio of 1:2-1:10 on or before December 31, 2021.

4. To approve the issuance of securities in one or more non-public offerings where the maximum discount at which securities will be offered will be equivalent to a discount of 20% below the market price of our common stock, as required by and in accordance with Nasdaq Marketplace Rule 5635(d).

5. To approve any change of control that could result from the potential issuance of securities in the non-public offerings following approval of Proposal No. 3, as required by and in accordance with Nasdaq Marketplace Rule 5635(b).

6.To approve amendments to the Company’s 2018 Equity Incentive Plan to (i) increase the number of authorized shares thereunder to 20,000,000 and (ii) to eliminate the performance-based compensation exception to the deductibility limitations under Section 162(m) of the Internal Revenue Code and to include any individual who was our then current or former named executive officers as a “covered employee,” such that payments to former employees will be subject to the deduction limitations thereunder.

7. The ratification of the appointment of Marcum , LLP, as the Company’s independent registered certified public accountant for the fiscal year ended December 31, 2019.

8. To transact such other business as may be properly brought before the 2019 Annual Meeting and any adjournments thereof.

Shareholders of record at the close of business on April 30, 2019 are entitled to notice of and to vote at the 2019 Annual Meeting and any postponements or adjournments thereof.


It is hoped you will be able to attend the 2019 Annual Meeting, but in any event, please vote according to the instructions on the enclosed proxy as promptly as possible. If you are able to be present at the 2019 Annual Meeting, you may revoke your proxy and vote in person.


Dated: May 2, 2019 By Order of the Board of Directors:

/s/ Michael Panosian
Michael Panosian,
Chairman of the Board of Directors