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REVERSE STOCK SPLIT
3 Months Ended
Mar. 31, 2022
Reverse Stock Split  
REVERSE STOCK SPLIT

NOTE 7 - REVERSE STOCK SPLIT

 

Effective on March 16, 2022, the Company has approved a reverse stock split of the Company’s authorized and issued and outstanding shares of common stock, par value $0.001 per share, at a ratio of 1-for-50 (the “Reverse Stock Split”). The par value of the Company’s common stock remained unchanged at $0.001 per shares as a result of the reverse stock split, resulting in a decrease to the aggregate par value of common stock and corresponding increase to paid-in capital in the Company’s unaudited condensed financial statements, which was retrospectively applied to all periods presented in the unaudited condensed financial statements. The par value remains unchanged at $0.001 per share, which resulted in a reclassification of capital from par value to additional paid-in capital in excess of par value. All share and per share data included within the unaudited condensed financial statements and related footnotes have been adjusted to account for the effect of the Reverse Stock Split.