Ridgeland, MS, DEC 16, 2004 (EventX/Knobias.com via COMTEX) -- American Fire Retardant Corp (OTCBB: AFRD) in a PRE 14C filed today, reported that the Company intends to seek the written consent of a majority of stockholders, for the following purposes:
1. Approve the merger of American Fire Retardant Corp. with and into Global Materials & Services, Inc., a newly formed Florida corporation;
2. Change our domicile from Nevada to Florida by means of a merger of American Fire Retardant Corp. with and into Global Materials & Services, Inc., a newly formed Florida corporation;
3. Elect directors of Global Materials & Services, Inc., the surviving Florida corporation;
4. Approve the change in par value of our common stock from $0.0001 per share to no par value per share under the articles of incorporation of Global Materials & Services, Inc., the surviving Florida corporation, which will govern us following the merger and change in domicile; and
5. Grant discretionary authority to our board of directors to implement a reverse stock split of our common stock on the basis of one post-consolidation share for up to each 2,000 pre-consolidation shares to occur at some time within 12 months of the date of this information statement, with the exact time of the reverse split to be determined by the board of directors.
This preliminary information is subject to regulatory approval.
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