from 1/26 pre 14A filing by IRSN--do you consider this a flood of stock? i have seen MUCH worse.I respectfully disagree with your term "FLOOD" <<<<Common Stock
(60,000,000 shares authorized) and Preferred Stock (500,000 shares authorized).
As of the Record Date, there are 46,746,700 shares of Common Stock outstanding,
4,300 shares of Series B Preferred Stock outstanding, and 2,300 shares of Series
C Preferred Stock outstanding. The presence in person or by proxy of the holders
of a majority of the outstanding shares of Common Stock and Preferred Stock (the
Preferred Stock being counted on the basis of its per share voting entitlement)
entitled to vote at the Annual Meeting will constitute a quorum for the purpose
of transacting business at the Annual Meeting.
On each matter that may come before the Annual Meeting, each stockholder is
entitled to one vote for each share of Common Stock and that number of shares of
Common Stock into which the Series B Preferred Stock and Series C Preferred
Stock, as the case may be, are currently convertible. The Series B and C
Preferred convert into 50 shares of Common Stock for each share of Preferred.
As a class, the Preferred Stock is entitled to 329,850 votes on each matter to
come before the Annual Meeting; however, in all matters to come before the
Annual Meeting, the Common Stock and the Series B and C Preferred Stock will
vote together as a single class. Abstentions and broker-non-votes are counted
for purposes of determining the presence or absence of a quorum for the
transaction of business. Abstentions are counted in tabulations of the votes
cast on proposals presented to stockholders and therefore will have the effect
of a negative vote. Broker-non-votes are not counted for purposes of
determining whether a proposal has been approved.>>>> |
