"Accordingly, on May 1, 2012, the four persons holding majority voting power of Marketing Worldwide Corporation took action by written consent to increase the authorized capital stock of the Company to consist of Five Billion Nine Hundred Ten Million (5,910,000,000) shares of which stock Five Billion Nine Hundred Million (5,900,000,000) shares of the par value of $.00001 each shall be common stock and of which Ten Million (10,000,000) shares of the par value of $.001 each shall be preferred stock. The significant increase in the amount of authorized shares was to accommodate the requirements of the covenants in certain Securities Purchase Agreements and Convertible Promissory Notes."
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