I guess it is just about game over for many of us stock holders. I can't say it has been a good ride. I haven't posted on here before, but I have enjoyed reading this thread. Cheers!
si.advfn.com
Dear Shareholder,
This information statement is being furnished to the shareholders of Enterprise Informatics Inc. (the "Company," "we," "us"). A committee of the Board of Directors composed solely of independent directors and the Board of Directors as a whole have each approved an amendment to our Amended and Restated Articles of Incorporation to effect a 1,000-to-1 reverse split of our common stock and the payment of cash in lieu of the issuance of any fractional shares otherwise resulting from the reverse split.
The proposed amendment to our Amended and Restated Articles of Incorporation was approved on [ ], 2008 by the vote of (i) a majority of the outstanding shares of the Company's common stock and (ii) a majority of the outstanding shares of the Company's common stock and Series F Convertible Preferred Stock, voting together as a single class, with the shares of Series F Convertible Preferred Stock voting on an as-converted basis, in each case, by the written consent of our majority shareholder, ERP2 Holdings, LLC. As a result, no further action by our shareholders is required in order to effect the amendment.
The reverse stock split is intended to reduce the number of our shareholders of record below 300, which will allow us to deregister our common stock under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and terminate our reporting and other obligations as a Securities and Exchange Commission ("SEC") reporting company. The Company anticipates recurring annual cost savings of approximately $1,030,000 as a result of the reverse stock split.
The reverse stock split is expected to be consummated in connection with a financing transaction between the Company and ERP2 Holdings, LLC. Consummation of the reverse stock split and the deregistration of the Company's common stock under the Exchange Act are preconditions to the Company's receipt from ERP2 of $1,200,000 in loan proceeds as part of the transaction.
The reverse stock split has not been approved or disapproved by the SEC or any state securities regulator, nor has the SEC or any state securities regulator passed upon the fairness or merits of the reverse stock split or upon the accuracy or adequacy of the information contained in this information statement. Any representation to the contrary is a criminal offense. |
