VAPIR ENTERPRISES, INC. (OTCMKTS:VAPI) Files An 8-K Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
ITEM 5.03 AMENDMENTS TO ARTICLES OF INCORPORATYION OR BYLAWS;
CHANGES IN FISCAL YEAR
On April 25, 2017 the Companys Board of Directors approved the
Amendment to the Companys Articles of Incorporation and
similarly, the holders of a majority of the outstanding shares of
the Companys Common Stock also approved the same Amendment.
The Certificate of Amendment has been submitted to the Secretary
of State of the State of Nevada and on April 27, 2017 the Nevada
Secretary of State accepted the filing of the Amendment. As
amended, the amendment to the Companys Articles of Incorporation
can be summarized as having the following new provisions:
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authorizes the Company?s Board of Directors to issue up to 300,000,000 shares of the Company?s Common Stock (par value $0.001) (which represents an increase from 100,000,000 shares authorized before the Amendment); |
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authorizes the Company?s Board of Directors the right to issue up to 20,000,000 shares of the Company?s Preferred Stock (par value $0.001) (which represents no increase in the 20,000,000 shares of Preferred Stock authorized prior to the Amendment); |
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authorizes the Company?s Board of Directors to designate and issue the Preferred Stock in one or more series each with such rights and privileges as the Board of Directors determines and without requiring that any such designation and any issuance be approved by the Company?s common stockholders. |
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Provide for the resolution of all claims that assert a violation of the Nevada General Corporation Law by the Company and/or its officers and directors be resolved by arbitration under the auspices of the American Arbitration Association with venue to be in the city at which the Company?s principal offices are located (as reported to the Securities and Exchange Commission) and applying the laws of the State of Nevada in each and every instance. |
Our Board of Directors and the holder of a majority of our Common
Stock believe that the Amendment may allow us an ability to raise
additional capital. The Amendment also gives additional authority
to the Companys Board of Directors that otherwise would be held
by the Companys Common Stockholders. A copy of the Amendment is
attached as an exhibit.
However, there can be no assurance that we will successfully
raise any additional capital or if we do raise additional capital
that we can do so in sufficient amounts and in terms that are
reasonable in light of our current circumstances. We are a small
company with limited financial and managerial resources and we
compete with many others in a competitive market place.
| Item 9.01. | Financial Statements and Exhibits. |
| (d) | The following exhibit is included with this Report: |
| Exhibit: | 3(a)(1) (attached) |
About VAPIR ENTERPRISES, INC. (OTCMKTS:VAPI)
Vapir Enterprises, Inc., formerly FAL Exploration Corp., is engaged in inventing, developing and producing aromatherapy devices and vaporizers. The Company’s aromatherapy devices utilize heat and convection air, and thereby extract natural essences and produce fresh fragrances. Its vaporizer products include Prima, which is a digital vaporizer that supports extracts and botanicals; VapirRise 2.0 Ultimate, which is designed for loose-leaf herbs and essential oils; VAPIR NO2, which is designed for loose-leaf herbs and direct inhalation, and VAPIR Oxygen Mini Corded, which is designed for loose-leaf herbs and direct inhalation. It sells over 100 different accessories and spare parts that ranges from replacement batteries, replacement mouthpieces, recharging pieces, and all other essential accessories and spare parts. It offers various aromatherapy essential oils and herbs for its vaporizer users. Its subsidiary, Vapir, Inc., specializes in the technology of digital aromatherapy. VAPIR ENTERPRISES, INC. (OTCMKTS:VAPI) Recent Trading Information
VAPIR ENTERPRISES, INC. (OTCMKTS:VAPI) closed its last trading session down -0.0017 at 0.0463 with 76,600 shares trading hands.