Just under 15 million shares at the time, I never gave permission or even voted....we shall see...
Our Board of Directors (sole director) approved the Amendment and the Reverse Stock Split on July 9, 2015.
On July 13, 2015, subsequent to the approval by our Board of Directors of the Amendment and the Reverse Stock Split, the holder of the majority of the outstanding shares of our corporation entitled to vote gave us written consent for the Amendment and the Reverse Stock Split.
Following the expiration of the twenty-day (20) period mandated by Rule 14c and the provisions of Chapter 78 of the Nevada Revised Statutes, our corporation will file a Certificate of Amendment to amend our Articles of Incorporation to give effect to the Amendment. We will not file the Certificate of Amendment to our Articles of Incorporation until at least twenty (20) days after the filing and mailing of this Information Statement. The proposed Certificate of Amendment to our Articles of Incorporation is attached hereto as Schedule A. The Certificate of Amendment will become effective when it is filed with the Nevada Secretary of State. We anticipate that such filing will occur twenty (20) days after this Information Statement is first mailed to our shareholders.
Although stockholders have approved the Reverse Stock Split, we may abandon or delay the Reverse Stock Split if our Board of Directors determines that it is no longer in the best interests of our corporation or our stockholders. If the Reverse Stock Split is not implemented by our Board of Directors by July 13, 2016, the proposal will be deemed abandoned, without further effect. In that case, our Board of Directors may again seek stockholder approval at a future date if it deems a reverse stock split to be advisable at that time.
If our Board of Directors decides to implement the Reverse Stock Split, it will become effective upon approval of The Financial Industry Regulatory Authority ("FINRA")