Medite Cancer Diagnostics Inc (MDIT)

[IslandTrader]

The hidden dilution:


Effect on Authorized but Unissued Shares

The reverse stock split will have the effect of significantly increasing the number of authorized but unissued shares of Common Stock. The number of authorized shares of Common Stock will not be decreased and will remain at 3,500,000,000. Because the number of outstanding shares will be reduced as a result of the reverse stock split, the number of shares available for issuance will be increased. As of the Record Date, there were 1,922,856,104 shares of Common Stock issued and outstanding. After completion of the reverse stock split, there will be 19,228,562 shares of Common Stock issued and outstanding.