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The Company had issued one billion shares in conjunction with the purchase of an entity known as Plaid Canary Corp. However, the purchase was rescinded and the certificate for one billion shares that had been printed was lost. Upon receipt of medallion guaranteed stock powers and indemnifications, the Company's transfer agent was able to cancel the one billion share certificate and remove it from the issued shares.
"We are pleased to see our outstanding common stock decrease by one billion shares, a reduction of almost 20%," said Paul Riss, the Chief Executive Officer of the Company. "We are eager to focus on the business going forward, our pending acquisition of Artizen, and the psilocybin and CBD research from our affiliate, Kaiyon Biotech Inc."
