Personally, I have faith in Huff and the GTE board and crew. I understand that having 250M shares authorized is not the same as having actually issued those shares. This is no different than asking the bank for an increase in your credit line, so you can be prepared for opportunities that present themselves. It doesn't mean you're going to act irresponsibly and go on a buying spree and max out that line of credit.
There may be reasons the company can't give us all the details about possible acquisitions they are considering. Let's say Huff announces to us his plans to acquire XYZ company because of their superior technology which will give our HAA a distinct advantage over our competitors. Do you think our competitors will just sit on their hands and let it happen, or try to acquire the technology themselves? How would we benefit from acquiring technology at much greater cost resulting from a bidding war, or worse, from being outbid and our competitors getting exclusive rights to the technology we want?
I will give Huff and crew the benefit of the doubt, vote to give them the flexibility they need, but at the same time hold them accountable for their actions with these additional authorized shares.
Given their track record with acquisitions (Hotzone, Sanswire), I think many here are worrying too much, and I think by December, the share price will have quenched all concerns regarding the number of authorized shares.
...and on the 7th day, God turned off his Macintosh.
