AURA SYSTEMS, INC. (OTCMKTS:AUSI) Files An 8-K Amendments to Articles of Incorporation or Bylaws; Change in Fiscal YearItem 5.03
On February 21, 2018, Aura Systems, Inc., a Delaware corporation (the “Company”), filed a Current Report on Form 8-K (the “Original Filing”) reporting the effectiveness of a reverse stock split of all of the outstanding shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), whereby each seven shares of Common Stock was combined and changed into one share of Common Stock (the “Reverse Stock Split”). The Original Filing disclosed that, on February 14, 2018, the Company filed with the Secretary of State of the State of Delaware a Certificate of Amendment to the Company’s Amended and Restated Certificate of Incorporation (the “Certificate of Amendment”) to implement the Reverse Stock Split. In the Original Filing, it was erroneously reported that the Company’s Amended and Restated Certificate of Incorporation, as amended by the Certificate of Amendment, continues to authorize the Company to issue a maximum of 75 million shares of Common Stock. In fact, the Company’s Amended and Restated Certificate of Incorporation, as amended by the Certificate of Amendment, continues to authorize the Company to issue a maximum of 150 million shares of Common Stock. This Amendment corrects the Original Filing.
About AURA SYSTEMS, INC. (OTCMKTS:AUSI)
Aura Systems, Inc. (Aura) designs, assembles, tests and sells its Axial Flux induction machine (AF) known as the AuraGen for industrial and commercial applications and VIPER for military applications. The Company’s system when applied as a generator uses the engine of a vehicle or any other prime mover to create mechanical energy and the AuraGen converts the mechanical energy to electric power. Its control system is used to deliver such power to the user. When used as an electric motor, its system delivers mechanical power to drive mechanical devices. The Company focuses on mobile power applications and thus the Company requires interface kits to prime movers. In addition the Company has interface kits for numerous model of military HMMWV, as well as other military vehicles. The Company is also working with a number of customers on integrating its AuraGen/VIPER power solution with stand alone engines knows as Auxiliary-Power-Unit (APU) to be used in emergency rescue.
