Let me try to clarify it a bit here. When the proxy statement was initially issued on July 22, there was no mention of an Authorized Share increase.
https://www.sec.gov/Archives/edgar/data/14319...re-14a.htm
We immediately notified Ziv and made him aware that the court order required the company to hold a meeting and to allow shareholders to vote on a proposal for not only a Reverse Split but also for an Authorized Share increase. On July 27. the proxy statement was amended accordingly.
https://www.sec.gov/Archives/edgar/data/14319...er-14a.htm
On Friday Sept. 4, the proxy statement makes it clear that the company is seeking an and/or outcome for proposals #1 and #2.
https://www.sec.gov/Archives/edgar/data/14319...efa14a.htm
On August 31 – September 1,, 2020, we attempted to convene a Special Meeting of shareholders to (i) authorize the Company’s Board of Directors to effect a reverse stock split of the Company’s outstanding Common Stock, $0.00001 par value per share, at any ratio between 1-for-10 and 1-for-20 at such time, prior to September 7, 2020, as the Company’s Board of Directors shall determine, in its sole discretion (“Proposal No. 1”), (ii) amend the Company’s Certificate of Incorporation to increase the number of the Company’s authorized shares of Common Stock from 500,000,000 shares to 2,500,000,000 shares (“Proposal No. 2”) and (iii) to approve one or more adjournments to the meeting, if necessary or appropriate, to permit further solicitation of proxies if there are not sufficient votes at the time of the Meeting cast in favor of Proposals No. 1 and/or No. 2 (“Proposal No. 3”).
Ziv made this clear in the meeting as well that he will be fine with any outcome as long as the outcome gives the company room to move forward. He also mentioned in a conversation that as soon as they reach a quorum they will bring the vote to an end.
So far it would appear that shareholders who care about the company's future are voting for at least one of #1 and #2.
For what it's worth I voted AGAINST / FOR / FOR.
At this point I don't even want to contemplate what will happen if shareholders don't approve at least one of the proposals. In my view it guarantees that we will live for another day, and I'm also optimistic that Ziv has the connections and what it takes to turn this company around...along with our fortunes.
https://www.sec.gov/Archives/edgar/data/14319...re-14a.htm
We immediately notified Ziv and made him aware that the court order required the company to hold a meeting and to allow shareholders to vote on a proposal for not only a Reverse Split but also for an Authorized Share increase. On July 27. the proxy statement was amended accordingly.
https://www.sec.gov/Archives/edgar/data/14319...er-14a.htm
On Friday Sept. 4, the proxy statement makes it clear that the company is seeking an and/or outcome for proposals #1 and #2.
https://www.sec.gov/Archives/edgar/data/14319...efa14a.htm
On August 31 – September 1,, 2020, we attempted to convene a Special Meeting of shareholders to (i) authorize the Company’s Board of Directors to effect a reverse stock split of the Company’s outstanding Common Stock, $0.00001 par value per share, at any ratio between 1-for-10 and 1-for-20 at such time, prior to September 7, 2020, as the Company’s Board of Directors shall determine, in its sole discretion (“Proposal No. 1”), (ii) amend the Company’s Certificate of Incorporation to increase the number of the Company’s authorized shares of Common Stock from 500,000,000 shares to 2,500,000,000 shares (“Proposal No. 2”) and (iii) to approve one or more adjournments to the meeting, if necessary or appropriate, to permit further solicitation of proxies if there are not sufficient votes at the time of the Meeting cast in favor of Proposals No. 1 and/or No. 2 (“Proposal No. 3”).
Ziv made this clear in the meeting as well that he will be fine with any outcome as long as the outcome gives the company room to move forward. He also mentioned in a conversation that as soon as they reach a quorum they will bring the vote to an end.
So far it would appear that shareholders who care about the company's future are voting for at least one of #1 and #2.
For what it's worth I voted AGAINST / FOR / FOR.
At this point I don't even want to contemplate what will happen if shareholders don't approve at least one of the proposals. In my view it guarantees that we will live for another day, and I'm also optimistic that Ziv has the connections and what it takes to turn this company around...along with our fortunes.
