Item 5.07. Submission of Matters to a Vote of Security Holders.
On December 30, 2019, Seamus Lagan, Chief Executive Officer and President of
Rennova Health, Inc. (the "Company"), and Alcimede LLC, of which Mr. Lagan is
the sole manager, the holders of an aggregate of 53,368 shares of common stock
and 250,000 shares of Series K Convertible Preferred Stock (the "Series K
Preferred Stock"), which votes with the common stock and the Series F
Convertible Preferred Stock (the "Series F Preferred Stock"), with each share of
Series K Preferred Stock having 40,000 votes, representing 50.9% of the total
voting power of the Company's voting securities, approved by written consent in
lieu of a special meeting of stockholders the following proposals, which had
previously been approved and recommended to be approved by the stockholders by
the Board of Directors of the Company.
Proposal 1: To approve an amendment to our Certificate of Incorporation, as
amended, to increase the number of authorized shares of our common stock from
10,000,000,000 to 12,500,000,000 shares.
Proposal 2: To approve an amendment to our Certificate of Incorporation, as
amended, to (i) effect a reverse stock split of all of the outstanding shares of
our common stock, at a specific ratio from 1-for-100 to 1-for-10,000, (ii)
reduce the number of authorized shares of our common stock to 3,000,000,000
shares, and (iii) grant authorization to our Board of Directors to determine, in
its discretion, the specific ratio and timing of the reverse split any time
before December 31, 2020, subject to the Board of Directors' discretion to
abandon such amendment.
The stockholder approval of the above proposals will not be effective until 20
days after an information statement that has been filed with the Securities and
Exchange Commission is mailed to the holders of our common stock, Series F
Preferred Stock and Series K Preferred Stock.
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