In connection with the merger, the board of directors anticipates receiving approval from the requisite number of preferred shareholders (voting on an as-converted basis) to change the name of the Company to True Drinks Holding Company, Inc. and to increase the number of authorized common shares to 4,000,000,000 shares. Given the number of shares of Common Stock that may issued upon conversion of the newly authorized preferred stock when the conditions to conversion have been satisfied, the board is currently considering whether, following such conversion, an up to 1-for-150 reverse stock split, effected without shareholder approval, may be beneficial to Bazi’s common stockholders.
:-)
In English,...the conversion shares were or will be reversed!
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