ZAP (fka ZAAP)

[WOLDUMAR]

I love how history repeats ....
"PROPOSAL NO. 3 AMENDMENT TO AMENDED AND RESTATED ARTICLES OF INCORPORATION TO EFFECT A REVERSE SPLIT OF COMMON STOCK 16

Overview 16
Recommendation of the Board of Directors 16
Reasons for the Reverse Stock Split 16
Effects of the Reverse Stock Split 17
Risks of Proposed Reverse Split 18
Board Discretion to Implement the Reverse Stock Split 18 "
NOT GOOD




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Effective Date 19
Payment for Fractional Shares 19
Exchange of Stock Certificates 19
Accounting Consequences 19
No Appraisal or Dissenter’s Rights 19
Material Federal U.S. Income Tax Consequences of the Reverse Stock Split 20
Vote Required 20
Recommendation of the Board of Directors 20

PROPOSAL NO. 4 AMENDMENT TO AMENDED AND RESTATED ARTICLES OF INCORPORATION TO INCREASE AUTHORIZED COMMON STOCK 21