Great news for the insiders, does nothing for the common shareholder. These guys had this ticker pushing $0.20 a few weeks ago, all things firing, and then decided to not only do a 15/1 reverse split, but after they split the common holders 15/1 they plan to just up the SS right back to where it was. Basically wiping out any shareholder and then taking care of themselves. Wipe me 15/1, then put it back up again.
No thanks..
Amendment to Certificate of Incorporation Immediately Following Reverse Stock Split Increasing Authorized Common Stock and Decreasing Par Value
WHEREAS, after careful review of the Corporation’s options with regard to its capitalization, consideration of the information provided, full disclosure by the Corporation's CEO, discussions with certain shareholders and after lengthy discussions, including without limitation, the benefits of effecting an amendment to the Corporation’s Certificate of Incorporation following the Reverse Stock Split, including but not limited the Corporations future need to raise additional capital, acquire complementary products and technologies, the need to provide for equity based compensation and the limited shares otherwise available for future issuance, the Board of Directors of the Corporation has determined that it is in the best interest of the Corporation and its shareholders to increase the authorized number of common shares available for issuance back to 290,000,000 as well as decreasing the par value of its common stock back to $0.0001.
