My emails to and from IR about the AS increase
Really not much information but I figured I'd share it.
Good Evening,
First let me say that I have a strong position with the company and have been with OPTI for some time now. I just saw that the authorized shares have increased from 1.8 billion to 1.99 billion and the outstanding shares have gone up by roughly 5 million. With talks of a buyback this is the opposite of what I was expecting to see when I looked at the share structure tonight. I was hoping you could explain the reason for the dramatic increase.
Thank you for your time,
John Deatherage
On Tue, Mar 2, 2021, 8:00 AM Andrew Barwicki < andrew@barwicki.com> wrote:
John Deatherage
Thank you for your interest in Optec.
Please note the following:
As of December 31, 2020, the number of shares outstanding of our Common Stock was: 1,710,154,437
I do not know where you got 1.99 Billion shares from - Please note the only place to obtain/attain these numbers are from 10Q's and 10K's.
On March 2, 2021 2:41 PM JED D <jedeatherage@gmail.com> wrote:
I'm not speaking about the outstanding shares. I'm referencing the total amount of authorized shares. I understand the additional 190 million haven't been issued but they have been authorized.
https://www.otcmarkets.com/stock/OPTI/security
On Tue, Mar 2, 2021, 2:08 PM Andrew Barwicki < andrew@barwicki.com> wrote:
John Deatherage
John D
As of the last filing - Total shares authorized: 1,800,000,000 as of December 31 , 202 0 which is the exact same amount for the previous quarterly filing.
If and when the company increases the authorized amount, it is done so in accordance with State regulations and to meet the need for share issuance for either (1) past obligations, or (2) deals (partnerships, agreements, etc) - the exact numbers are provided in the quarterly release which represents the quarter the shares were issued (not authorized).
As a pink sheet company, management has the right to increase the authorized amount to meet their needs without a shareholder vote.