8000 Incorporated (EIGH)

[loanranger]

"whereby a like for like share exchange will take place with the 8000 Inc shareholder certificates being recalled and cancelled, in exchange for the same valued stock in the emergent business.

Detailed information will be announced at the conclusion of the transaction but prior to the share exchange process which will be handled by the Transfer Agent."

Do I have this right?
The Board of Director, on behalf of the shareholders, is going to conduct a transaction which will result in the shareholders tendering their shares in return for shares of another company. And after the transaction is concluded they will be providing the details. Can he do that? I mean, I know it's OK with everybody and all, but can he really do that?

http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=25855
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=25856
http://www.leg.state.nv.us/nrs/NRS-078.html#NRS078Sec378

:o)