Health Sciences Group Inc (HESG)

[Eternalist]

No, but in order to increase the AS according to the definition of Authorized Shares you need shareholder approval. I owned over 4 million shares in 2009 while the SEC and FBI watched Tom Gaffney. Guess what? I never received a call or email in 09 and if I did, I would not have approved the increase in 2010.

The maximum number of shares of stock that a company can issue. This number is specified initially in the company's charter, but it can be changed with shareholder approval. Generally a much greater number of shares are authorized than required, to give the company flexibility to issue more stock as needed. also called authorized stock or shares authorized.

Read more: http://www.investorwords.com/333/authorized_shares.html#ixzz3AV5JBP8o

FYI: I still hold those original shares.