You should read that again, the attempt to increase Authorized Shares was REJECTED.
"The proposal to amend the Company’s Articles of Incorporation to increase the authorized shares of capital stock from 300 million to 350 million, of which 330 million would be classified as common stock and 20 million classified as preferred stock, received 55.0% of the votes cast, representing approximately 32.1% of the shares outstanding, which is less than the 50% threshold of the voting shares for the proposal, and was not approved."
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.