UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
CURRENT REPORT
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Item 8.01 Other Events
On July 21, 2022, GBT Technologies Inc. (the “Company”) filed and mailed to its record stockholders a Definitive Schedule 14C Information Statement that authorized the Company’s Board of Directors to effect, in its sole discretion, a reverse stock split of the Common Stock in a ratio of up to 1-for-500 (the “Reverse Stock Split”), and authorized the filing of an amendment to the Company’s Articles of Incorporation to implement the Reverse Stock Split and any other action deemed necessary to effectuate the Reverse Stock Split, without further approval or authorization of stockholders, at any time prior to December 31, 2023.
On October 12, 2023, the Company amended its Articles of Incorporation to increase its authorized shares of common stock to 30,000,000,000 (the “Increase Amendment”). The Increase Amendment was approved by the Board of Directors as well as the shareholders holding in excess of a majority of the issued and outstanding voting shares of the Company.
With the implementation of the Increase Amendment, the Company’s Board of Directors decided that the Reverse Stock Split is not needed and the Company will not pursue such Reverse Stock Split.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| GBT TECHNOLOGIES INC. | ||
| By: | /s/ Mansour Khatib | |
| Name: | Mansour Khatib | |
| Title: | Chief Executive Officer | |
| Date: November 7, 2023 | ||