Thursday, August 27, 2015 11:25:36 AM
He claimed previously that VMGI would not raise the share authorization above 500 million.
What did the CEO then do? He raised the share authorization to 4 billion shares, without telling investors (until much, much later in financials)
So now that their share authorization is maxed-out again, there may not even be enough shares in reserve for conversion of the toxic financing debt.
A reverse split is likely soon, if FINRA will allow it.
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