BAIXO REOLCATION SERVICES, INC. (OTCMKTS:BXRO) Files An 8-K Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
ITEM 5.03 AMENDMENT TO ARTICLES OF INCORPORATION OR BYLAWS;
CHANGES IN FISCAL YEAR
Amendment to Articles of Incorporation – Name
Change
Effective December 9, 2016, Board of Directors of the Company and
the majority shareholders of the Company, approved an amendment
to the articles of incorporation to change the name of the
Company to “Gripevine Inc.” (the Name Change Amendment). The
Amendment was filed with the Secretary of State of Nevada on
December 22, 2016 changing the name of the Company to “Gripevine
Inc.” (the “Name Change”). The Name Change was effected to
better reflect the future business operations of the Company. See
“Section 7. Corporate Governance and Management. Item 5.07
Submission of a Vote to Security Holders.”
The Company filed appropriate documents with FINRA to effect the
Name Change. FINRA has not yet declared an effective date for the
Name Change. The new trading symbol of the Company will have a
“D” placed on the ticker symbol for twenty business days from
the effective date of the Name Change. After twenty business days
has passed from the effective date of the Name Change with FINRA,
the Company’s trading symbol will change to its new symbol
without the D. The new cusip number for the Company is 39861P
100.
SECTION 5. CORPORATE GOVERNANCE AND MANAGEMENT
5.07 Submission of Matters to a Vote of
Security Holders
Name Change Amendment/Forward Stock Split
On December 9, 2016, the majority shareholders of the Company
approved a forward stock split of fifteen for one (15:1) of the
Company’s total issued and outstanding shares of common stock
(the Stock Split) and a change in the name of the Company from
“Baixo Relocation Services Inc.” to “Gripevine Inc.” (the
“Name Change”). to the Company’s Bylaws and the Nevada Revised
Statutes, a vote by the holders of at least a majority of the
Companys outstanding votes is required to effect the Stock Split
and the Name Change. The Companys articles of incorporation does
not authorize cumulative voting. As of the record date of
December 9, 2016, the Company had 8,000,000 voting shares of
common stock issued and outstanding. The consenting stockholders
of the shares of common stock are entitled to 4,300,000 votes,
which represents approximately 53.75% of the voting rights
associated with the Companys shares of common stock. The
consenting stockholders voted in favor of the Stock Split and the
Name Change described herein in a unanimous written consent dated
December 9, 2016.
The Board of Directors had previously considered factors
regarding their approval of the Stock Split including, but not
limited to: (i) current trading price of the Companys shares of
common stock on the OTCQB Market and potential to increase the
marketability and liquidity of the Companys common stock; (ii)
possible reluctance of brokerage firms and institutional
investors to recommend lower-priced stocks to their clients or to
hold in their own portfolios; (iii) desire to meet future
requirements of per-share price and net tangible assets and
shareholders equity relating to admission for trading on other
markets; (iv) desire to mitigate short sellers and the adverse
impact on the marketplace and trading of the Companys shares; and
(v) contemplation of proposed transaction with a corporate entity
resulting in change of business operations. The Board of
Directors of the Company approved the Name Change and the Stock
Split and recommended the majority shareholders of the Company
review and approve the Name Change and the Stock Split.
The Stock Split will be effected based upon the filing of
appropriate documentation with FINRA. The Stock Split will
increase the Company’s total issued and outstanding shares of
common stock from approximately 8,000,000 shares to 120,000,000
shares of common stock. The common stock will continue to be
$0.001 par value.
SECTION 9 FINANCIAL STATEMENTS AND EXHIBITS
Item 9.01 Financial Statements and Exhibits
(a) Financial Statements of Business Acquired.
Not applicable.
(b) Pro forma Financial Information.
Not applicable.
(c) Shell Company Transaction.
Not applicable.
(d) Exhibits.
3.1.3 Amendment to Articles of Incorporation filed with
the Nevada Secretary of State on December 22, 2016 regarding
change in name. *
SIGNATURES
About BAIXO REOLCATION SERVICES, INC. (OTCMKTS:BXRO)
Baixo Relocation Services, Inc. operates a consulting business. The Company provides relocation services to clients, both individual and corporate, relocating to the state of Goa, India. The Company assists clients intending to relocate to the region for temporary, long-term and permanent periods. It offers a range of relocation services, including arranging and assisting with transportation in the state of Goa; household goods movement; immigration documentation; real estate rental and purchases; children’s education registration; area orientation; housekeeping; utilities connections; banking introductions; local transportation; tax compliance, and language and cultural training. It has an operational Website domain, www.baixorelocation.com. The Company has not generated any revenue. BAIXO REOLCATION SERVICES, INC. (OTCMKTS:BXRO) Recent Trading Information
BAIXO REOLCATION SERVICES, INC. (OTCMKTS:BXRO) closed its last trading session 00.000 at 0.120 with shares trading hands.
