Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
Pursuant to resolutions adopted by the Board of Directors and the holders of a
majority of the outstanding shares of common stock of
Completion of the proposed reverse stock split was to be effected on a date
determined by our Board of Directors only upon receipt of notice from the
As a result of the reverse split, every two shares of our issued and outstanding
common stock will be automatically combined and converted into one issued and
outstanding share of common stock, par value
No fractional shares of common stock will be issued as a result of the reverse stock split. Stockholders of record who would otherwise be entitled to receive a fractional share will receive a cash payment in lieu thereof. The reverse stock split impacts all holders of AiXin's common stock proportionally and will not impact any stockholder's percentage ownership of common stock.
AIXIN has chosen its transfer agent,
Notwithstanding the reverse stock split, our Articles of Incorporation, as amended, will provide that we are authorized to issue 500 million shares of common stock and 20 million shares of preferred stock. Since the number of shares of common stock we will be authorized to issue will remain the same despite the 1 for 2 reverse stock split, the number of shares of common stock outstanding will represent a decrease on a percentage basis compared to the number of our authorized shares of common stock.
Item 9.01 Financial Statements and Exhibits.
Exhibit No. Description 3.1 Articles of Amendment to Articles of Incorporation filedJanuary 6, 2023 3.2 Statement of Correction filedFebruary 14, 2023 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
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