FOudnd this on raging bull website thsi would exlpain the lack of movement on part of this stock. POsner is a well known scam artist i really wish i had not got involved with this stock had i known they were goign to get rid of a guy that actually worked (holcolmb) for a guy that lives off the scam (posner) man we need a miracle for thsi thing to turn around
5/17/10 8-K
Americhip International Inc · 8-K · For 5/10/10
Filed On 5/17/10
tem 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
On May 6, 2010, Steve Holcomb was removed as a member of the Board of Directors by majority vote of the Board of Directors.
On May 6, 2010, Mr. Lance Posner was nominated to the Board of Directors, and his appointment affirmed by unanimous vote of the current Directors. Mr. Posner was also appointed as President and CEO of the Company.
On May 6, 2010, the Board of Directors unanimously adopted a resolution, effective May 16, 2010, to effect a two hundred-for-one (200:1) reverse stock split of the Common Stock.
On May 6, 2010, the Board of Directors issued twenty-five million shares of Common Stock to Lance Posner.
On May 6, 2010, the Board of Directors resolved to accept the resignation of James C. Shelley and Francis Gaskins tendered their resignation as officers of the Company effective at 5:00 PST on May 7, 2010.
