Indigo Energy Reports Consolidation of Common Stock
Pursuant to written consent of a majority of the outstanding common stock taken September 2, 2003, Indigo Energy Inc. (Napa, CA) has amended its Articles of the Incorporation (Consolidation) to consolidate the 5,543,262 issued and outstanding common shares with a par value of $0.001 into 554,326 issued and outstanding common shares (New Common).
The company will consolidate the issued and outstanding common shares on the basis of one New Common share for each 10 old common shares so that the 5,543,262 issued and outstanding common shares will be consolidated into 554,326 New Common shares. The Consolidation does not effect the ownership percentage of the company’s stockholders.
The consolidation of the shares is designed to enhance the company’s ability to raise capital by way of share issuance and to facilitate any potential acquisition by way of share issuance. The company believes that it will be able to attract experienced officers and directors through the issuance of options. On or about September 15, 2003, the company expects to make the transaction effective.