I don't think they have any choice, and expect that it's also noted inside the hidden convertible notes contract. It's also referred inside the quarterly statements, because, they're way out of shares to cover existing notes, convertible loans, options, and warrants. Insider option and current warrants alone have been above the authorized for several months, well before the recent convertible note placement for 1.5 mil. That's why they've agreed to hold from exercising their insider options until, guess? August!
The recent convertibles will have described the actions in place otherwise, nobody in their right mind would have given them a dime in loans, 'gar-en-tted!'
As of May 10, 2016, there were 324,063,789 and at least 460,404,816 fully diluted outstanding, (with estimated convertible notes @ .05, = 30 million + shares) While Authorized is 400,000,000.
If they increase the authorized, then it's going much lower. the current unissued outstanding has ratcheting clauses to compensate and usually do warrant and options. double the authorized will slice those share prices for notes etc. right in half.
Corn-fused-us Long-vestor ancient saying: Patience and small movements keep a steady course.
I don't have a humble opinion!
At's ma boy!
