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HPIL Holding Reports Filing of Amendment to the Articles of Incorporation
Freeland, MI, April 22, 2016 -- HPIL Holding (the “Company") (OTCPK: HPIL) is pleased to report that on April 19, 2016, the Company filed an amendment with the Secretary of State of Nevada amending its Articles of Incorporation, Article IV - Capital Stock. The effect of the amendment was to cancel all 100,000,000 shares of the Company’s authorized preferred stock ("Preferred Stock”), consisting of 25,000,000 shares of Preferred Stock, par value $8.75 per share; and 75,000,000 shares of Preferred Stock, par value $7 per share. The amendment was effective as of April 18, 2016, at which time there were no shares of Preferred Stock issued and outstanding. Following the amendment, the Company has 400,000,000 shares of stock authorized for issuance (reduced from 500,000,000 shares authorized prior to the effect of the amendment), consisting solely of shares of the Company’s common stock, par value $0.0001 per share.
Safe Harbor / Forward-Looking Statements
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” and “intend,” among others. These forward-looking statements are based on the Company’s current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, substantial competition; our possible need for financing; uncertainties of technological changes; and dependence upon third parties. The Company does not undertake an obligation to update or revise any forward-looking statement. All of the Company’s forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date hereof.
Contact:
For more information, please contact:
HPIL Holding
+1(248)750-1015