More new shares and a reverse split is nothing new, they have announced this before in 2019 as Hypersolar. And what came after that ? Nothing, except more and more new shares.
HYPERSOLAR, INC. (Name of Registrant as Specified In Its Charter)
1. An amendment to our Articles of Incorporation, as amended (the “Articles of Incorporation”) to increase the total number of shares of authorized common stock to 5,000,000,000 shares of common stock from 3,000,000,000.
2. An amendment to the Articles of Incorporation to effect a reverse stock split of our common stock by a ratio of not less than 1-for-15 and not more than 1-for-50 (the “Reverse Stock Split”) at any time prior to the one year anniversary of filing the definitive Information Statement on Schedule 14C with respect to the Reverse Stock Split, with the Board of Directors (the “Board”) having the discretion as to whether or not the Reverse Stock Split is to be effected, and with the exact ratio of any Reverse Stock Split to be set at a whole number within the above range as determined by the Board in its discretion.
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