Electromedical Technologies, Inc., a Delaware-incorporated medical device company, has announced an amendment to its Articles of Incorporation. The company's board and majority shareholders have approved a significant increase in the number of authorized shares, as detailed in a recent SEC Form 8-K filing.
The amendment, effective as of Wednesday, July 18, 2024, increases the total authorized shares to over three billion. Specifically, the corporation is now authorized to issue three billion common shares, each with a par value of $0.00001, alongside one million Series "A" Preferred Shares and one Series "B" Preferred Share, both also with a par value of $0.00001.
This change is being processed by the Delaware Secretary of State and will come into effect upon the completion of the filing. The decision to expand the number of shares was ratified by written consent from a majority of the voting shareholders and the Board of Directors' resolution.
Electromedical Technologies, headquartered in Scottsdale, Arizona, operates in the surgical and medical instruments sector under the organization name 08 Industrial Applications and Services. The company's fiscal year-end is December 31.
The SEC filing also includes the Certificate of Amendment and an interactive data file related to the cover page, formatted in Inline XBRL.
This development is based on information from a press release statement and reflects the company's administrative changes without suggesting any broader industry impact or the company's future performance.
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