Found this on Edgar from a Form PRE 14C filed 3/2/98 (excerpt):
February 27, 1998
TO THE SHAREHOLDERS OF
LIFSCHULTZ INDUSTRIES, INC.
This Information Statement (the "Information Statement") is being
delivered by Lifschultz Industries, Inc., a Delaware corporation (the
"Company"), and relates to the approval by the shareholders of the Company
of an amendment to the Company's Certificate of Incorporation to reduce the
number of authorized shares from 85,000,000 shares (80,000,000 common and
5,000,000 preferred) to 1,750,000 shares (1,650,000 common and 100,000
preferred). The purpose of the decrease in authorized shares is to reduce
the Company's Delaware franchise tax.
On February 25, 1998, the Board of Directors of the Company approved
the decrease in authorized capital as described above and the accompanying
amendment to the Company's Certificate of Incorporation necessary to effect
the decrease (the "Amendment"). At that time, the Board of Directors also
approved and recommended to the Company's shareholders for their approval
the Amendment. Subsequently, by written consent in lieu of a meeting, the
Amendment was duly approved by the shareholders of the Company.
This Information Statement will be mailed to the Company's shareholders
on or about March 9, 1998. It is being furnished to shareholders solely to
provide them with certain information concerning the Amendment in accordance
with the requirements of the Securities Exchange Act of 1934, as amended,
and the regulations promulgated thereunder, particularly Regulation 14C.
The costs of this Information Statement are being borne by the Company.
<snip>
Can't hurt anything, and may make the stock more appealing. Guess it ties to the 1:50 reverse split. BTW, I just discovered LIFF today! Am interested except for its illiquid trading volume. Fundamentally, an extremely positive story though! |
