| | | A majority of the Company’s outstanding voting stock did not approve an amendment to the Company’s Articles of Incorporation to increase the number of our authorized shares of common stock from 7,500,000 shares to 150,000,000 shares and to increase the number of authorized shares of preferred stock from 500,000 shares to 10,000,000 shares.
sec.gov
From Message 32414308 :
So the total POTENTIAL votes are 3,844,921 + (255,714 x 9) or 6,146,347 votes. Hence the number of votes required to approve this change....."to increase the number of authorized shares of our Capital Stock from 8,000,000 Shares, comprised of 7,500,000 Shares of Common Stock and 500,000 Shares of Preferred Stock, to 150,000,000 Shares of Common Stock and 10,000,000 Shares of Preferred Stock" .....is 3,073,174. That's the magic number. They got 2,848,889. |
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