ITEM 8.01: OTHER ITEMS
On September 14, 2010, FINRA advised the Company that FINRA would process the Company's 1 for 5 reverse stock split previously disclosed in the Company's July 27, 2010, Definitive Information Statement on Schedule 14(c), relating to an amendment to the Company's articles of incorporation to: (i) reduce the number of authorized shares of common stock from 150,000,000 shares to 30,000,000 shares; and (ii) effecting a 1 for 5 reverse split of the Company's common stock. Said amendment to the Company's articles of incorporation was filed on August 30, 2010. FINRA also advised the Company that the corporate action will take effect at the open of business on September, 15, 2010, that the new symbol for the Company’s shares on that date will be ONBID, and that after 20 business days the “D” would be removed from the symbol, which will then be ONBI.
Subsequent to the filing and effectiveness of above referenced amendment to the Company’s articles of incorporation, the Company then filed on August 30, 2010, another amendment to its Articles of Incorporation also previously disclosed in the Company's July 27, 2010, Definitive Information Statement on Schedule 14(c) pursuant to which the number of authorized shares of common stock was increased from 30,000,000 shares to 100,000,000 shares.
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