Zerify Inc (ZRFY)

[HokieHead]

They had to increase the number of shares "Authorized" in order to convert the preferred shares for the vote. The preferred shares are worth 4x a common.

The authorized is 5 billion but the shares outstanding is only 1,004,427,467. Market cap still under $2 million.

I like this part:

SUMMARY OF OUR OUTSTANDING SECURED CONVERTIBLE DEBENTURES

During the six months ended June 30, 2013, DART had no conversions.

The DART secured convertible debentures are fully matured. We have been in contact with the note holder who has indicated that it has no present intention of exercising its right to convert the debentures into restricted shares of our common stock. The note holder has advised us that it currently is willing to wait until it receives a buyout offer from us.