Telanetix, Inc. (fka TNIX)

[pro-trader]

New Authorized and Outstanding share count

Authorized will be 8 000 000
Outstanding will be 4 594 262

Our board of directors and our Majority Holders believe that the Reverse Stock Split is in the best interests of our company because the Reverse Stock Split will provide the capital structure that may facilitate further potential business and financing transactions and also increase the per share price of our outstanding common stock. We believe that if we are successful in maintaining a higher stock price, the stock will generate greater interest among professional investors and institutions. If we are successful in generating interest among such entities, we anticipate that our common stock would have greater liquidity and a stronger investor base.

The purpose of the Authorized Share Decrease is to reduce the Company's authorized capital stock proportionate to the Reverse Stock Split and to reduce the Company's Delaware Annual Franchise Tax, which is in part based upon the number of authorized shares. By reducing the Company’s number of authorized shares, the Company will reduce its Delaware Franchise taxes in the future years.
http://ih.advfn.com/p.php?pid=nmona&article=46180840

On January 10, 2011, our board of directors and our stockholders, acting by written consent, approved the Charter Amendment to decrease our authorized number of shares of common stock from 600,000,000 to 8,000,000 and to decrease our authorized number of shares of preferred stock from 10,000,000 to 133,333. We expect to file the Charter Amendment with the Delaware Secretary of State, and thereby such amendment becoming effective, promptly following the lapse of the 20 calendar day period following the mailing of a definitive information statement to our stockholders.

As of December 31, 2010, there were 344,569,652 shares of our common stock outstanding that were held of record by approximately 114 stockholders. Holders of our common stock are entitled to one vote per share on all matters to be voted upon by the stockholders. In the event of our liquidation, dissolution or winding up, holders of common stock are entitled to share ratably in all assets remaining after payment of liabilities. The common stock has no preemptive, conversion or other rights to subscribe for additional securities. There are no redemption or sinking fund provisions applicable to the common stock. The rights, preferences and privileges of holders of common stock are subject to, and may be adversely affected by, the rights of the holders of shares of any series of preferred stock that we may designate and issue in the future.