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Microcap & Penny Stocks : OILEX (OLEX) -- Ignore unavailable to you. Want to Upgrade?

To: Marty Rubin who wrote (2539)	1/16/1998 6:18:00 AM
From: Ditchdigger	Read Replies (2) \| Respond to of 4276

Marty, I believe if you check the charter,you will find there was originally 50m sh authorized. What has been mistaken as in increase in authorized shares(to 50m),is actually an "issuance" of the remaining 25m that were authorized. This of course does not require shareholder approval. IMO an increase in "authorized shares" would require shareholder approval. And also IMO,get ready to vote<vbg>..DD PS: lastly I think management is dreaming,if the believe they will qualify for NASDAQ listing.. nasdaq.com I don't think they have a snowballs chance in hell of meeting the $50m market cap requirements..(thought I'd throw that in,we got 10" last night and it's not slowing down-off to do some plowing...)