Right, the board diluted themselves out of control of the company, and so they will no longer be able to vote for dilution.
The board overreached and so, even if they get THIS dilution, they will only be able to raise a small amount of money with that number of shares.
The truth is incontrovertible. Malice may attack it, ignorance may deride it, but in the end, there it is.
Winston Churchill