WILMINGTON, DE / ACCESSWIRE / November 4, 2015 /
Redux Holdings, Inc. (PINKSHEETS: RDXH) is pleased to announce the reduction in authorized common stock from the current 500,000,000 shares (500 million authorized common shares) to 100,000,000 shares (100 Million authorized common shares). The company is also pleased to announce that the Preferred Authorized stock will be reduced from 20,000,000 (20 Million authorized preferred shares) to 15,000,000 (15 Million authorized preferred shares).
This reduction comes in the wake of our recent releases stressing the fact that we have been working on our PCAOB Audits and Form 10 for up list to OTCQB. That being said the company recently released that we have mutually signed a deal with Southridge for a $3,500,000 equity purchase agreement. Even with this agreement in place the company strongly feels it has more than enough authorized common stock to facilitate that agreement to it’s end.
The company also wishes to relay the fact that the filing with Nevada Secretary of State to reflect the decrease in authorized shares will take several business days.
Shareholders can find this information once its processed at:
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