The Company filed Articles of Amendment to its Articles of Incorporation with the Nevada Secretary of State whereby it amended its Articles of Incorporation by decreasing the Company’s total issued and outstanding shares of common stock by conducting a reverse split of such shares at the rate of one (1) share for every one thousand (1,000) share currently issued and outstanding (the “Reverse Split”).
The Company intends to file an Issuer Company-Related Action Notification Form with FINRA requesting that the aforementioned reverse split be effected in the market. The Company expects to file such Notification on October 17, 2016
The Company chose to conduct this corporate restructuring to reduce the Company’s common share market capitalization and contribute to strengthening its overall financial position. The Company believes that it is now better positioned to execute its growth plan and take advantage of any potential strategic partnerships that could assist it in achieving its long-term goals.