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ICLD > SEC Filings for ICLD > Form 8-K on 21-May-2013All Recent SEC Filings

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Submission of Matters to a Vote of Security Holders

Item 5.07 Submission of Matters to a Vote of Security Holders.

On May 15, 2013, the holders of voting shares representing at least a majority of the voting rights of our common stock and our outstanding shares of preferred stock voting together with our common stock on an as-converted basis, delivered an executed written consent in lieu of a special meeting authorizing and approving an amendment to our Certificate of Incorporation to effect a reverse stock split of all outstanding shares of our common stock, at an exchange ratio of up to one-for-four (1:4) shares (the "Reverse Split"), with our board of directors maintaining the discretion of whether or not to consummate the Reverse Split, and if so decided, at which exchange ratio to implement the Reverse Split.

Our board of directors approved the Reverse Split on May 1, 2013. We filed a Definitive Information Statement on Schedule 14C with the Securities and Exchange Commission on May 15, 2013 (the "Information Statement") with respect to the Reverse Split. For further information regarding the Reverse Split, please see the Information Statement, the contents of which are incorporated herein by reference.

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