LFBG - Splitting 1 for 500. From PRE 14c filed 9/23/11:
"This Information Statement informs stockholders of actions taken and approved on September 23, 2011 by the principal stockholders of the Company’s Common Stock and Series C Preferred having the voting rights equivalency of 10,122,333,092 shares of Common Stock (collectively, the “Majority Stockholders”). The Majority Stockholders are the beneficial owners of approximately 55.04% of the issued and outstanding shares of voting capital stock of the Company. The only item approved by written consent of the Majority Stockholders was as follows:
(i)
To effect a One (1) for Five Hundred (500) reverse stock split (1:500), whereby, on October 24, 2011 (subject to FINRA review of the reverse split and its notification date to the markets), for every five hundred shares of Common Stock then owned, each stockholder shall receive one share of Common Stock, with fractional shares being rounded up the nearest whole number.
On the date of the actions taken and approved by the written consent by the Majority Stockholders, there were issued and outstanding (i) 8,379,641,409 shares of Common Stock, (ii) 3,586,245 shares of Series A Preferred Stock, (iii) 7,890,529 shares of Series B Preferred Stock, (iv) 10,000 shares of Series C Preferred Stock, and (v) 9 shares of Series D Convertible Preferred Stock (collectively, the “Preferred Stock”). Each share of Common Stock, Series A Preferred Stock and Series B Preferred Stock is entitled to one vote. Each share of Series C Preferred Stock has the voting equivalency of one million (1,000,000) shares of Common Stock which means the 10,000 issued and outstanding shares of Series C Preferred Stock have the voting equivalency to 10 billion shares of Common Stock. All of the issued and outstanding shares of Series C Preferred Stock is held by Troy A. Lyndon, the Company’s Chief Executive Officer, President and Chairman. The shares of Series D Convertible Preferred Stock have no voting rights, however, each share of Series D Convertible Preferred Stock is immediately convertible into one million (1,000,000) shares of the Company’s Common Stock."
