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Posted On: 03/01/2018 2:03:51 PM
Post# of 3605
New Coates 14c Filing
http://secfilings.com/searchresultswide.aspx?...d=12593687
NOTICE OF ACTION TAKEN BY WRITTEN CONSENT OF OUR MAJORITY STOCKHOLDER
To Our Stockholders:
We are writing to advise you that as a result of George J. Coates, our majority stockholder, owning approximately 82.3% of the combined voting power of the common and preferred stock, by written consent on March 1, 2018 in lieu of a stockholders' meeting, the stockholders of Coates International, Ltd. (“the Corporation”) have approved and authorized the corporate actions necessary to:
(i) cure certain technical defects arising from noncompliance with Delaware General Corporation Law in the procedures follow by the Corporation in effecting a 1:200 reverse stock split which became effective immediately after the close of trading on December 1, 2017 relating to (a) the sequence in the timing of obtaining majority stockholder approval and board of directors approval and (b) failure to file a certificate of amendment to the Corporation’s Amended Certificate of Articles of Incorporation with the State of Delaware,
(ii) clarify that the reverse stock split effected a 1:200 reduction in the number of the Corporation’s authorized shares of common stock, par value $0.0001 from 12,000,000,000 to 60,000,000, with retroactive effect to the close of trading on December 1, 2017,
(iii) clarify that the reverse stock split effected 1:200 reduction in the number of authorized shares of the Corporation’s preferred stock, par value $0.001 from 100,000,000 to 500,000 with retroactive effect to the close of trading on December 1, 2017,
(iv) concurrently therewith, further amend the Corporation’s Amended Certificate of Articles of Incorporation with the State of Delaware to increase the number of the Corporation’s authorized shares of common stock, par value $0.0001 from 60,000,000 to 120,000,000 and reduce the number of authorized shares of the Corporation’s preferred stock, par value $0.001 from 500,000 to 350,000.
http://secfilings.com/searchresultswide.aspx?...d=12593687
NOTICE OF ACTION TAKEN BY WRITTEN CONSENT OF OUR MAJORITY STOCKHOLDER
To Our Stockholders:
We are writing to advise you that as a result of George J. Coates, our majority stockholder, owning approximately 82.3% of the combined voting power of the common and preferred stock, by written consent on March 1, 2018 in lieu of a stockholders' meeting, the stockholders of Coates International, Ltd. (“the Corporation”) have approved and authorized the corporate actions necessary to:
(i) cure certain technical defects arising from noncompliance with Delaware General Corporation Law in the procedures follow by the Corporation in effecting a 1:200 reverse stock split which became effective immediately after the close of trading on December 1, 2017 relating to (a) the sequence in the timing of obtaining majority stockholder approval and board of directors approval and (b) failure to file a certificate of amendment to the Corporation’s Amended Certificate of Articles of Incorporation with the State of Delaware,
(ii) clarify that the reverse stock split effected a 1:200 reduction in the number of the Corporation’s authorized shares of common stock, par value $0.0001 from 12,000,000,000 to 60,000,000, with retroactive effect to the close of trading on December 1, 2017,
(iii) clarify that the reverse stock split effected 1:200 reduction in the number of authorized shares of the Corporation’s preferred stock, par value $0.001 from 100,000,000 to 500,000 with retroactive effect to the close of trading on December 1, 2017,
(iv) concurrently therewith, further amend the Corporation’s Amended Certificate of Articles of Incorporation with the State of Delaware to increase the number of the Corporation’s authorized shares of common stock, par value $0.0001 from 60,000,000 to 120,000,000 and reduce the number of authorized shares of the Corporation’s preferred stock, par value $0.001 from 500,000 to 350,000.
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