Item 5.03
AMENDMENT TO ARTICLES OF INCORPORATION OR BY-LAWS; CHANGE IN FISCAL YEAR
As Silverton Adventures, Inc. prepares to complete its 10-K for the period of July 1, 2012 through June 30, 2013 it has identified several clerical errors within the April 12, 2013 Nevada Secretary of State Amended and Restated Articles of Incorporation and the subsequent April 15, 2013 8-K filing relating to the certificate of designation of the Series B Preferred stock. Pursuant to these errors the Company acknowledges that there can be no reliance on the April 15, 2013 8-K.
The identified errors within the April 12, 2013 Nevada Secretary of State Amended and Restated Articles of Incorporation are as follows:
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Section 1.2 (a) of the certificate of designation of the Series B Preferred stock is incomplete and not congruent with sub-section b.
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Section 1.4 (a) of the certificate of designation of the Series B Preferred stock is incomplete and not congruent with sub-section b.
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Section 1.4(a) of the certificate of designation of the Series C Preferred stock reflects an incorrect conversion value.
The identified errors within the April 15, 2013 8-K filing are as follows:
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The description of the certificate of designation of the Series B Preferred stock Section 1.2 (a) and (b) are incomplete and incorrect in relation to the April 12, 2013 Nevada Secretary of State Amended and Restated Articles of Incorporation filing.
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The description of the certificate of designation of the Series B Preferred stock Section 1.4 (a) and (b) are incomplete and incorrect in relation to the April 12, 2013 Nevada Secretary of State Amended and Restated Articles of Incorporation filing.
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The description of the certificate of designation of the Series B Preferred stock Section 1.4(a) reflects an incorrect conversion value.
The Board of Directors has since taken the necessary actions to propose and pass the corrections so that the 10-K for the period of July 1, 2012 through June 30, 2013 can be completed and filed with the required timeframe.
Silverton Adventures Inc., Unanimous Written Consent of the Board of Directors in Lieu of Meeting
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Attached Herein as Exhibit 99.1.