BTCS Inc. (OTCMKTS:ICRD) Files An 8-K Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders.
On December 20, 2016 (the Record Date), BTCS Inc. (the Company)
obtained written consent by the holder of the majority of the
voting power of the Companys capital stock approving amendments
to the Companys Articles of Incorporation to approve a reverse
stock split at a ratio of one-for-60 and maintain the authorized
common stock at 975 million shares. The Company will not
implement the reverse stock split until it receives the approval
of the Financial Industry Regulatory Authority (FINRA).
On the Record Date, there were (i) 952,756,004 shares of common
stock outstanding and (ii) 100 shares of outstanding super voting
Series A Preferred Stock. Each share of BTCS common stock
represents one vote and the Series A Preferred Stock votes
together with the common stock but is entitled to vote a majority
of the voting power with respect to the reverse split.
The Company expects to file Articles of Amendment with the
Secretary of State of Nevada upon compliance with notification
requirements of FINRA and expiration of a 20-day waiting period
following mailing of notification to shareholders of the action
taken by written consent.
About BTCS Inc. (OTCMKTS:ICRD)
International Card Establishment, Inc. is a provider of diversified products and services to the electronic transaction processing industry. The Company’s operations take place through two wholly owned subsidiaries: International Card Establishment, Inc. (the same name as the parent company, but herein referred to as I.C.E.); and, Neos Merchant Solutions, Inc. I.C.E. establishes merchant accounts for businesses that enable those businesses to accept credit cards, debit cards, and other forms of electronic payments from their customers; supplies the necessary point-of-sale transaction systems; facilitates processing for the accounts. The I.C.E. subsidiary also markets a proprietary Smart Card-based system that enables merchants to offer customized gift and loyalty cards. All of the Company’s offerings generate recurring revenues in the form of transaction fees, service fees, or finance charges. BTCS Inc. (OTCMKTS:ICRD) Recent Trading Information
BTCS Inc. (OTCMKTS:ICRD) closed its last trading session 00.00000 at 0.00160 with 65,000 shares trading hands.