UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company
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an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
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Item 3.03 Material Modification to Rights of Security Holders.
Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
The Board of Directors of BrewBilt Manufacturing, Inc., a Florida corporation (the Company), has approved a reverse stock split of its common stock, par value $0.001 per share (the Common Stock), at a ratio of 1-for-300 (the Reverse Stock Split) pursuant to Section 607.10025 of the Florida Business Corporation Act (the FBCA). Because the Reverse Stock Split will also reduce the authorized shares of Common Stock in the same proportion as the Reverse Stock Split, from 25,000,000,000 shares to 83,333,333 shares, shareholder approval is not required to effect the Reverse Stock Split pursuant to Section 607.10025(2) of the FBCA.
The Reverse Stock Split will become effective at 5:00 p.m. on April 28, 2022 (the Effective Date) pursuant to Articles of Amendment to the Article of Incorporation of the Company (the Articles of Amendment) filed by the Company with the Secretary of State of the State of Florida on April 20, 2022. A copy of the Articles of Amendment has been filed as Exhibit 3.1 hereto and is incorporated herein by reference.
Effects of the Reverse Stock Split
Effective Date; Symbol; CUSIP Number. The Reverse Stock Split will become effective with FINRA (the Financial Industry Regulatory Authority) in the marketplace at the open of business on April 29, 2022 (the Effective Date), whereupon the shares of Common Stock will begin trading on a split-adjusted basis. On the Effective Date, the Companys trading symbol will change to BBRWD for a period of 20 business, after which the D will be removed from the trading symbol. In connection with the Reverse Stock Split, the CUSIP number for the Companys Common Stock will change to 10756L 207.
Split Adjustment; No Fractional Shares. As a result of the Reverse Stock Split, the total number of shares of the Companys Common Stock held by each stockholder will be converted automatically into the number of whole shares of Common Stock equal to (i) the number of shares of Common Stock held by such stockholder immediately prior to the Reverse Stock Split, divided by (ii) 300, rounded up (if applicable) to the next whole number. No fractional shares will be issued, and no cash or other consideration will be paid in connection with the Reverse Stock Split. Instead, the Company will issue one whole share of the post-Reverse Stock Split Common Stock to any stockholder who otherwise would have received a fractional share as a result of the Reverse Stock Split.
Certificates. Stockholders who hold their shares in electronic form do not have to take any action as the effect of the Reverse Stock Split will automatically be reflected in their accounts. Stockholders holding paper certificates may (but are not required to) send their certificates to the Companys transfer agent at the address given below. The transfer agent will issue a new share certificate reflecting the terms of the Reverse Stock Split to each requesting stockholder.
vStock
Transfer, LLC
18 Lafayette Place
Woodmere, NY 11598
Phone: (212) 828-8436
Facsimile: (646) 536-3179
Immediately after the Reverse Stock Split, each stockholders percentage ownership interest in the Company and proportional voting power will remain unchanged except for minor adjustments that may result from rounding fractional shares into whole shares. The rights and privileges of the holders of shares of Common Stock will be unaffected by the Reverse Stock Split.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit 3.1 | Articles of Amendment to the Articles of Incorporation of BrewBilt Manufacturing Inc., as filed with the Secretary of State of the State of Florida on April 20, 2022 |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
BrewBilt Manufacturing, Inc. |
Date: April 26, 2022 | By: | /s/ Jef Lewis |
Jef Lewis, Chief Executive Officer |