SCHEDULE 14C on July 15, 2013, the Board of Directors of the Company unanimously adopted the following resolutions:
1) To seek shareholder approval to amend the Company's Articles of Incorporation to effect a reverse stock split of the Company's Common Stock at the sole discretion of the Board of Directors,
to effect a reverse split of the Company's Common Stock based upon a ratio of not less than one-for fifty (1 for 50) nor more than one-for-one hundred (1 for 100) shares
at any time prior to June 30, 2014, with no change in the number of authorized shares.
Thereafter, on July 16, 2013, pursuant to the By-Laws of the Company and applicable Nevada law, shareholders of the Company holding 1,083,888,888 shares of Common Stock and equivalents of the Corporation eligible to vote, representing approximately 53% of the total securities of the Company eligible to vote, approved this proposal.
This proposal will not become effective until the date which shall be no sooner than the expiration of 20 days after the Information Statement is sent to stockholders and notification to and approval by FINRA of the same, but no later than June 30, 2014.
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