Sunday, July 21, 2024 1:28:31 PM
Ok, here is the language in the AOI: Highlighted for those with comprehension problems.
Note that common shareholders are NOT entitled to a vote. ALL voting power is held by John Park. Period.
TWELFTH: In furtherance, and not in limitation of the power conferred by statute,
the board of directors is expressly authorized:
Unless otherwise provided for herein, by corporate law or the bylaws,
if any, adopted by the stockholders, with or without shareholder
approval or shareholder vote, and with or without advance notice to
the shareholders, make, alter, alter or amend the articles of
incorporation or the bylaws of the corporation, including (a)
changing the number of authorized shares; (b) initiating a forward or
a reverse split, provided that the majority of each class or series of
stock affected by such forward or reverse split entitled to vote, votes
in favor of such action, (c) changing the par value of any class or
series of stock (d) merger or (e) share exchange;
To fix the amount to be reserved as working capital over and above
its capital stock paid in; to authorize and cause to be executed
mortgages and liens upon the real and personal property of this
corporation;
Note that common shareholders are NOT entitled to a vote. ALL voting power is held by John Park. Period.
TWELFTH: In furtherance, and not in limitation of the power conferred by statute,
the board of directors is expressly authorized:
Unless otherwise provided for herein, by corporate law or the bylaws,
if any, adopted by the stockholders, with or without shareholder
approval or shareholder vote, and with or without advance notice to
the shareholders, make, alter, alter or amend the articles of
incorporation or the bylaws of the corporation, including (a)
changing the number of authorized shares; (b) initiating a forward or
a reverse split, provided that the majority of each class or series of
stock affected by such forward or reverse split entitled to vote, votes
in favor of such action, (c) changing the par value of any class or
series of stock (d) merger or (e) share exchange;
To fix the amount to be reserved as working capital over and above
its capital stock paid in; to authorize and cause to be executed
mortgages and liens upon the real and personal property of this
corporation;
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