NNVC held a party yesterday. Anybody go?
"If the Share Increase is approved by shareholders, upon its effectiveness we will have a total of 150,000,000 authorized shares of Common Stock, with 3,844,921 shares of Common Stock issued and outstanding (as of the Record Date), and 1,548,155 shares reserved for issuance, leaving a balance of approximately 144,607,000 shares of Common Stock authorized and not reserved for any specific purpose. Additionally, upon effectiveness of the Share Increase, we will have a total of 255,714 shares of Preferred Stock issued and outstanding as of the Record Date, leaving a balance of 9,744,286 shares of Preferred Stock authorized and unissued and not reserved for any specific purpose. The Board of Directors recommends that shareholders approve the Share Increase Amendment. Adoption of the amendment requires that the number of votes cast in favor of the amendment exceed the number of votes cast against it at the Annual Meeting."
I suspect that the Board got what it wanted and they can now spend $300M or so in dilutive Common shares (at current prices) on whatever suits them. Who knows what they'll think of to throw all of those Preferred shares at (besides themselves, I mean)?
I don't wanna hear no whining :o)
https://www.finanznachrichten.de/nachrichten-2019-12/48362796-nanoviricides-inc-nanoviricides-annual-meeting-of-shareholders-to-be-held-on-saturday-december-7th-2019-at-the-sheraton-hotel-stamford-ct-200.htm?utm_campaign=cityfalcon&utm_medium=cityfalcon&u
(link from the news ticker atop this page) |
