Vote or no vote, there are some extra shares mentioned in the 10Q:
===paste===
Commitments and contingencies
Stockholders' equity:
Class A convertible preferred stock, stated
value and liquidation preference - $1.00 per
share; authorized 5,000,000 shares, issued and
outstanding 500,000 shares 55,000 --
Class B convertible preferred stock, stated
value and liquidation preference - $1.00 per
share; authorized 10,000,000 shares, issued and
outstanding 100,000 shares 54,764 --
Common stock, $.001 par value; authorized
50,000,000 shares, issued and outstanding
49,203,160 shares 49,203 --
Common stock, $0.001 value, 2,267,858 shares
to be issued 507,700 --
===endpaste===
Will this cause an auditor to raise an eyebrow?
Traveller, you looking in? Is that a weird entry?
They've had six months to authorize the shares, and the vote is just a
formality anyway, so why the delay? Why doesn't Dorian want to
officially issue those shares?
My guess is he's reluctant to file a Prospectus.
Lotsa nasty disclosure required in those prospectuses. [prospecti?] :)
Come to think of it, the directors haven't been officially elected either.
Gotta file a proxy statement for that one.
Niggling little bios in those proxy statements. ;)
...Mezz - Is Jeanette still holding those 2 million shares? Did she
short against them? Inquiring minds want to know. |
