Subsequent Events |
9 Months Ended |
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Jun. 28, 2015 | |
| Subsequent Events [Abstract] | |
| Subsequent Events |
Note 9 Subsequent Events
On July 14, 2015, the board of directors approved directors’ compensation of $1,000 monthly for each independent board member and a $500 stipend per meeting attended. In addition, each independent board member is to be granted 21,000 (post split) shares, with 7,000 shares vesting on the grant date, and on the first and second anniversary thereof. The Chair of each Board Committee would be granted an additional 5,000 (post split) shares, vesting immediately.
On July 22, 2015, our Board of Directors unanimously confirmed our reverse split in the ratio of 1:600 to all shareholders to take effect on a future date, yet to be determined. The par value of the common stock outstanding shall remain at $0.001 per share subsequent to the reverse split action. |
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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