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I mis read it......Twice it gives that 35

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Magnum7419 Member Level  Monday, 10/21/19 04:38:50 PM
Re: RE-Digger post# 82888
Post # of 84517 
I mis read it......Twice it gives that 35 million number in the filing. What do you think it means ? I did email the CEO and he gave the same 35 million for A/S but qualified that the true numbers will be clear upon the publication of the Def.... IMHO Last allowed post for the day.

"REDUCTION IN AUTHORIZED SHARES OF COMMON STOCK

Our Board and the holders of the majority voting power of our issued and outstanding capital stock have approved an amendment to the Articles to reduce the number of authorized shares of our Common Stock from 6,000,000,000 to 3,000,000,000 to reduce possible dilution that could occur to the value of the Common Stock in the future by lowering the number of additional shares of Common Stock that can be issued in the future from authorized shares. As of the Record Date, the Company has [____________] shares of Common Stock issued and outstanding. Upon the filing of the amendment to the Articles, the Company will have approximately 35,397,217 shares of Common Stock authorized and available for future issuances. Notwithstanding the foregoing, the Company may seek an increase in authorized shares of Common Stock as and when considered appropriate by the Board. The form of the proposed amendment to our Articles necessary to effect the Authorized Share Reduction is attached hereto as Appendix A."


AMENDMENTS OF THE COMPANY’S ARTICLES OF INCORPORATION



To effect the Reverse Stock Split, the Company will amend its Articles. The amendment to the Articles to effect the Reverse Stock Split will provide for the Reverse Stock Split, becoming effective on the Effective Date, and will accordingly state that each share of Common Stock outstanding prior to the Reverse Stock Split will be automatically reclassified and changed into 1/2,000th of a fully paid and non-assessable share of Common Stock, without increase or decrease in the par value of thereof"

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