Hey Newbie... this is just a contingency plan in case the company does not t achieve their "projected" sales..which the market is warming up to and seems to thing is possible. All this chatter about these recent filings is hogwash. Nothing is "effective yet" and is months away..
Procedure for Implementing the Reverse Stock Split
The Reverse Stock Split would become effective upon the filing (the “Effective Time”) of a certificate of amendment to our articles of incorporation with the Secretary of State of Nevada. The exact timing of the filing of the certificate of amendment that will effect the Reverse Stock Split will be determined by our Board of Directors based on its evaluation as to when such action will be the most advantageous to the Company and our stockholders. In addition, our Board of Directors reserves the right, notwithstanding stockholder approval and without further action by the stockholders, to elect not to proceed with the Reverse Stock Split if, at any time prior to filing the amendment to the Company’s articles of incorporation, our Board of Directors, in its sole discretion, determines that it is no longer in our best interest and the best interests of our stockholders to proceed with the Reverse Stock Split. If a certificate of amendment effecting the Reverse Stock Split has not been filed with the Secretary of State of the State of Nevada within one year after the Special Meeting, our Board of Directors will abandon the Reverse Stock Split.
The filing is a back up plan. Relax. Not that I'm investing here for the long term, but I wouldn't put much thought is speculating at this juncture... its way to much effort and added stress. Go outside and build a snow man!
