Praxsyn Corp (PXYN)

[brharris]

I think in part because of the sale of Pet Airways portion of the company. Many shares were issued to two individuals. And line item #2 doesn't sit well with me!


On March 26, 2013, shareholders holding a two-thirds (2/3) majority of the shares entitled to vote on matters presented to the Common shareholders voted to amend the articles as follows:

1.
To change the name of the Company to, “Praxsyn Corporation.”

2.
To increase the number of authorized shares of Common Stock to One Billion Four Hundred and Million (1,400,000,000) shares.

3.
To authorize the Board of Directors to designate, from the already authorized ten million (10,000,000) shares of preferred stock, classes of stock with whatsoever rights and preferences as the board of directors may so choose, including voting and super-majority voting privileges.

4.
To amend the articles so that actions which, by the terms of the Illinois Business Corporation Act of 1983, would normally require a two thirds (2/3) majority vote of the shareholders to pass shall only require a simple majority.

5.
To approve the Agreement and Plan of Merger listed as an exhibit to that certain current report on Form 8-k and filed with the Securities and Exchange Commission on March 26, 2014.