ALR Technologies SG Ltd (ALRTF)

[Havoc23]

The OS is NOT 4billion, explained in the company's last filing, the pre-14c:

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11780721

Imo the AS increase was done to insure that there is no hostile takeover, creating a safety net for the chairman of the board who spent millions of his OWN money to fund this company

Sidney Chan, the Chairman and Chief Executive Officer of the Company, has submitted a proposal to the Board of Directors to increase the borrowing limit available on the existing line of credit arrangement by $1,500,000, from $7,000,000 to $8,500,000.

We are currently authorized to issue 2,000,000,000 shares of common stock. Currently, there are 242,777,909 shares of common stock outstanding and the option to acquire 579,000,200 shares outstanding. After the increase in the authorized number of shares of common stock pursuant to the Amendment, there will be available for issuance, 9,420,999,800 shares of our common stock. The par value of our shares of common stock will remain $0.001 per share. The terms of the additional shares of common stock will be identical to those of the currently outstanding shares of common stock. The Amendment will not alter the current number of issued shares. The relative rights and limitations of the shares of common stock would remain unchanged under the Amendment.

The Board of Directors has received a proposal for financing from the Chairman of the Board of Directors to increase the borrowing limit available on the existing line of credit arrangement by $1,500,000, which will provide financing to support operations of the Company for the next twelve months. In exchange for the increase to the line of credit, the Company would be required to issue the Chairman and his spouse the option to acquire an additional 4,390,001,300 shares, having an exercise price of $0.002 per share. All of the options previously issued to the Chairman and his spouse would be repriced to $0.002 per share in order to equal the exercise price of the newly issued options. The Board of Directors believes it is prudent to increase the authorized shares of common stock at this time as it will enable the proposal for financing to be accepted.

The increase in authorized shares of common stock is not being proposed as a means of preventing or dissuading a change in control or takeover of us. However, use of these shares for such a purpose is possible. Authorized but unissued or unreserved common stock and preferred stock, for example, could be issued in an effort to dilute the stock ownership and voting power of persons seeking to obtain control of us or could be issued to purchasers who would support the Board of Directors in opposing a takeover proposal. In addition, the increase in authorized shares of common stock, if approved, may have the effect of discouraging a challenge for control or make it less likely that such a challenge, if attempted, would be successful. The Board of Directors and our executive officers have no knowledge of any current effort to obtain control of us or to accumulate large amounts of shares of our common stock.