25 April 2008

Cognigen Networks Announces Name Change, Reverse Stock Split and Other Corporate Changes


The Earth Times
Cognigen Networks, Inc. (BULLETIN BOARD: CGNW) , an Internet-enabled marketer and certificated reseller of communications services, announced today that it has completed the steps necessary to change its name to BayHill Capital Corporation, to consummate a reverse split of its common stock at a ratio of one-for-50, effective April 23, 2008, to re-incorporate under the General Corporation Law of the State of Delaware and to effect other corporate changes.
At a special meeting of shareholders held on March 31, 2008, Cognigen's shareholders approved proposals to change the company's name to "BayHill Capital Corporation," to effect a reverse stock split of Cognigen's common stock, at a ratio of one post-split share for each 50 shares currently outstanding, and to re-incorporate the company under the Delaware General Corporation Law. Cognigen shareholders also approved proposals to reduce the number of authorized shares of Cognigen capital stock from 320,000,000 shares (300,000,000 shares of common stock and 20,000,000 shares of preferred stock) to 100,400,000 shares (100,000,000 shares of common stock and 4000,000 shares of preferred stock) and to adopt the Cognigen Networks, Inc. 2008 Stock Incentive Plan.

0 Comments:

Post a Comment

Subscribe to Post Comments [Atom]

Links to this post:

Create a Link

<< Home