IDSI filed Articles of Amendment with the Florida Secretary of State for a 1 for a 1000 reverse split of IDSI’s common stock on July 12, 2018 (the “Reverse Split”). Also stipulated in the amended articles was a reduction of authorized shares of its common stock from 40,000,000,000 to 500,000,000 which became effective on July 27, 2018 (the “Share Reduction”).
After the Share Reduction, IDSI’s authorized capital stock consists of 500 million shares of common stock, no par value, and 2 million shares of preferred stock. As of August 20, 2018, following the Reverse Split and Viable’s August 7, 2018, conversion of all of its remaining shares of Series M preferred stock, there are 120,641,330 shares of IDSI common stock issued and outstanding and 20 shares of Series L preferred stock issued and outstanding
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