Skinvisible, Inc. (OTCMKTS:SKVI) Files An 8-K Material Modification to Rights of Security Holders
Item 3.03 Material Modification of Rights of Security Holders
Our majority shareholders and our board of directors approved an amendment to our Articles of Incorporation for the purpose of approving a reverse split of one to fifty in which each shareholder will be issued one common share in exchange for every fifty common shares of their currently issued common stock.
Prior to approval of the reverse split we had a total of 144,830,920 issued and outstanding shares of common stock, par value $0.001. On the effective date of the reverse split, we will have a total of 2,896,619 issued and outstanding shares of common stock, par value $0.001. New stock certificates will be issued upon surrender of the shareholders’ old certificates.
A copy of the Certificate of Change that was filed with the Nevada Secretary of State on December 13, 2018 is attached hereto as Exhibit 3.1 and is incorporated by reference herein.
In connection with the reverse split, we have the following new CUSIP number: 830703 203. We have submitted the required information to FINRA and received an effective date of January 2, 2019. Our common stock will be quoted under the symbol “SKVID” for a period of 20 trading days. After 20 trading days, our common stock will trade under the symbol “SKVI.”
SECTION 5 – Corporate Governance and Management
Item 5.03 Amendments to Articles of Incorporation or Bylaws
The disclosures set forth in Item 3.03 are incorporated by reference into this Item 5.03.
SECTION 9 – Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits
| Exhibit No. | Description |
| 3.1 | Certificate of Change |
SKINVISIBLE INC Exhibit
EX-3.1 2 ex3_1.htm BARBARA K. CEGAVSKE Secretary of State 202 North Carson Street Carson City,…
To view the full exhibit click here
About Skinvisible, Inc. (OTCMKTS:SKVI)
Skinvisible, Inc. is a pharmaceutical research and development company. The Company has developed a polymer delivery system, Invisicare, and formulated over 40 topical skin products. The Company’s Invisicare manages the delivery of active ingredients for topically applied skin care products. The Company develops topical prescription and over-the-counter products enhanced with Invisicare to license to pharmaceutical and consumer goods companies around the world. The Company assists pharmaceutical clients in the early development of optimal formulation. The Company sells a broad spectrum sun protection factor (SPF) 30 sunscreen known as Skinbrella. Its portfolio of sunless tanning products includes sunless tanning lotions (light, medium and dark), pre-sun moisturizer and after-sun moisturizer, along with sunless tanning spray products for commercial use. It has also developed approximately three broad spectrum sunscreens, with SPF 15, 30 and 50.