agreed completely. 5 reverse splits in what..3.5 years? Absolutly legal, but criminal in my mind. And the SEC should just flat HALT them, and fine them, and throw them in jail.
Ridgeland, MS, OCT 25, 2004 (EventX/Knobias.com via COMTEX) -- American Fire Retardant Corp (OTCBB: AFRN) in a DEF 14C filed today, reported that the Company intends to take the following action pursuant to the written consent of a majority of stockholders of the Company:
1. To grant discretionary authority to our directors to amend our articles of incorporation to change our name from "American Fire Retardant Corp." to "Global Materials & Services, Inc." within 180 days of this information statement with the exact time of the amendment to be determined by our directors;
2. To implement a reverse stock split of our common stock on the basis of one post-consolidation share for each 2,000 pre-consolidation shares;
3. To amend our articles of incorporation to reduce the par value of our common stock from $0.001 per share to $0.0001 per share;
4. To amend our articles of incorporation to increase the number of our authorized shares of common stock to 19.8B shares; and
5. To approve Stock Plans of American Fire Retardant Corp.
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