Can someone tell me what this means?
The current share structure of the company is 23,001,000 shares issued and outstanding with 20,000,000 Restricted Preferred Shares and 3,001,000 Common Shares in the public float. The company will reduce the authorized shares to 500,000,000 by resolution and will file it with the Secretary of State of Delaware immediately.
Does that mean a reverse split will happen? Sorry, I'm a little stuck on their syntax.
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