Can B Corp (CANB)

[Gan]

From today's 8K filing.. Its clear that AS will be increased to 5B. Is that a concern? Probably, they need to increase to complete the merger and future capital, etc.
IMO, we just need to wait and and see how this merger will work out. It looks like a very good fit and has great potential.
GLTA
=========================================================

On January 23, 2017, a majority of the stockholders of WRAP took the following actions by written consent pursuant to Florida law:

Approved a name change from WRAPmail, Inc. to HealthMax Group, Inc.
·
Approved increase of the total number of authorized common shares to five billion (5,000,000,000).
·
Authorized the issuance of up to 1,000,000 shares of preferred stock, to be designated by the board.
·
Designated a preferred class of preferred shares as Series B. The Company shall designate 1,000 shares of its preferred stock as Series B Preferred Stock, which shall be collectively convertible into common shares representing 87.5% of the issued and outstanding commons shares of the Company, calculated as of the date of the Company closing the acquisition of Health Max pursuant to the Agreement (“Closing”), presuming all Series B Preferred Stock is converted to common stock at Closing. No fractional common shares shall be issued upon conversion and, in the case a fractional share would otherwise be issued, the number of shares to be issued shall be rounded up to the nearest whole share. The Series B Preferred Stock shall have no other rights or privileges.
·
Approved the Agreement.