Axion Power International Inc (AXPWQ)

[MrLucky]

This was the reason they gave...

If our shareholders do not approve the reverse split set forth in the Definitive Schedule 14A filed on October 17, 2016, we will have insufficient shares with which to satisfy our obligations to issue shares upon conversion of the balance of our November 2015 convertible notes, and under the terms of those notes, we will be contractually required to seek further approval from our shareholders to increase our authorized but unissued common shares in order to have sufficient shares to satisfy our obligations under those notes.