On 22th October’14, BrilliantPennyStocks.com initiated coverage on SWRF. The stock moved up by 300% since the coverage was initiated.
On 1st October Swordfish Financial Inc (OTCMKTS:SWRF) announced to its shareholders that it has entered into a merger agreement with SoOum, Corp on 25th September. It also disclosed that the merge has been approved by the members of its board of directors and hence does not require any vote of approval from the shareholders.
Terms of Merger Agreement
As per the terms of the merger agreement, the entire stock of SOOUM would be exchanged in lieu of nearly 20 million shares of preferred series B stock issued by Swordfish Financial Inc (OTCMKTS:SWRF). The agreement also stipulates that on completion of the share swap, SoOum, Corp will cease to operate as a independent entity and would he operating as a 100% owned subsidiary of Swordfish.
Board Of Swordfish Reconstituted
Swordfish Financial Inc (OTCMKTS:SWRF) also disclosed that its Board of Directors had agreed to bring on board Ms. Susan Sjo, William B. Westbrook, Luis Vega, and Ronald Vega on to its board as directors on the recommendation of SoOum, Corp. Further, the board of Swordfish has also disclosed that  Clark Ortiz has put in his papers and resigned from his directorship role at the firm.
Share Structuring
Swordfish Financial Inc (OTCMKTS:SWRF) also went on to inform the market regulators that post the completion of the merger, its total authorized cap stock would add up to 50 billion shares of common stock. Each share will hold a value of $0.0001. Of the 50 billion shares, a total of 31.98 billion shares have been issued and are outstanding. 50 million shares have been set aside as preferred stock have a value of $0.0001.
New Office Bearers
Clark Ortiz has been retained as the President of the company, Noel Trevino will serve as the Chief Technical Officer, and Director and Susan Sjo will officiate as the Chief Executive Officer and Director.
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