Digerati Technologies, Inc. Authorizes Adoption of Amended and Restated Bylaws and Amended and Restated Articles of Incorporation; Announces Management Changes
November 29, 2012 at 02:18 pm EST
Share
Digerati Technologies, Inc. informed the holders of record of shares of its common stock that on November 26, 2012, the board of directors and stockholders holding a majority of it voting shares authorized the following actions: adoption of amended and restated bylaws; and adoption of amended and restated Articles of Incorporation to be filed with the Secretary of State of Nevada. The amended and restated Articles of Incorporation will include the following: change of its corporate name to HD Energy Services, Inc.; establish committees of the board of directors that will comply, when required, with the NYSE listing standards and other rules of the SEC and NYSE; increase the number of shares of capital stock, the company is authorized to issue; authorize indemnification agreements with directors and senior officers; and adopt a serial board of directors and other measures that are intended to be anti-takeover provisions.
In connection with the acquisition of Waste Deep, Inc., and Digerati Technologies, Inc. name change to HD Energy Services, Inc., the company elected three directors that replaced two of its directors. The company also moved its Sr. Vice President of Finance & Controller into the position of Chief Financial Officer. Antonio Estrada Jr. served as its Sr. Vice President of Finance from August 2007 until November 2012 when he was elected Chief Financial Officer. From January 1999 to 2008, he served in various roles within Digerati, including International Accounting Manager, Treasurer, Internal Auditor, and Controller.
Digerati Technologies, Inc. provides cloud services specializing in unified communications as a service (UCaaS) and broadband connectivity solutions for the business market. The Company's product line includes a portfolio of Internet-based telephony products and services delivered through its cloud application platform and session-based communication network and network services, including Internet broadband, fiber, mobile broadband, and cloud WAN solutions (SD WAN). It provides carrier-grade services to small-to-medium-sized businesses (SMB). Its UCaaS or cloud communication services include video conferencing, mobile applications, voice over internet protocol (VoIP) transport, and customized VoIP services, among others. The Company's broadband connectivity solutions for the delivery of digital oxygen are designed for reliability, business continuity and to optimize bandwidth for businesses using the Company's cloud communication services and other cloud-based applications.
Digerati Technologies, Inc. Authorizes Adoption of Amended and Restated Bylaws and Amended and Restated Articles of Incorporation; Announces Management Changes