why acquire when you can barely keep the lights on ?
also
On October 31, 2012 the Company’s Board of Directors approved the amendment of the Company’s Certificate of Incorporation to change the Company’s name to IC Punch Media, Inc. and to provide for a class of “blank check” preferred stock. The Company is authorizing five hundered million (500,000,000) shares of preferred stock, par value $.000001.
So you did indeed authorize preferred .. which trumps common any day any time ...
This way we don't have to affect the common shares.
I am afraid it is too late as the commons have been adversely affected .