AVRA INC. (OTCMKTS:AVRN) Files An 8-K Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
On February 20, 2019, the Company received a stamped copy from the State of Nevada of a Certificate of Change amending its Articles of Incorporation so that each two hundred (200) shares of common stock issued and outstanding shall, automatically and without any action on the part of the respective holders thereof, be combined and converted into one (1) share of common stock (the “Reverse Stock Split”). The Reverse Stock Split was approved by the majority shareholder holding 55.73% of the issued and outstanding common stock of the Company and by the board of directors through unanimous written consent on January 10, 2019. No fractional shares shall be issued in connection with the Reverse Stock Split. Stockholders who otherwise would be entitled to receive fractional shares of common stock shall be rounded up to the next whole share of common stock.
Item 8.01 Other Events
On March 25, 2019 the Company filed with FINRA a Reverse Split so that each two hundred (200) shares of common stock issued and outstanding shall, automatically and without any action on the part of the respective holders thereof, be combined and converted into one (1) share of common stock. It is anticipated that the effective date for the Reverse Split will on or about April 15, 2019.
About AVRA INC. (OTCMKTS:AVRN)
Avra Inc. is focused on solutions in the digital currency markets, particularly in offering payment solutions to businesses across the world. The Company also maintains its business of marketing and distributing of Smart Television (TV) boxes to home consumers throughout the United States. The Company’s solutions include AvraPay, AvraATM, AvraTourism, AvraSecure and AvraNews. AvraPay is a cryptocurrency payment solution. It focuses on offering the technology in order for merchants to accept digital payments in their businesses, with AvraPay being the payment processor. AvraATM promotes usage and acceptance of digital currencies through the Company’s proposed network of automated teller machines (ATMs). AvraTourism provides cryptocurrency payment processing solutions for merchants, such as hotels and casinos. AvraSecure delivers a range of server security, hosting and management services. AvraNews provides a news portal focusing on digital currency news.
