blah blah blah
Swoosh
Scoop
Watch what happens next!
Read they needed another increase in authorized shares :
We are currently authorized to issue 600,000,000 shares of common stock under our Third Amended and Restated Certificate of Incorporation, as amended. As of January 11, 2019, 133,700,690 shares of common stock were issued and outstanding, the remaining shares were reserved for issuance upon the conversion or exercise of our outstanding convertible securities and warrants. However, as of January 11, 2019, we were required to have a total of 5,375,141,758 shares of common stock reserved for issuance upon the conversion of the Series E Convertible Preferred Stock (the “Series E Stock”), the exercise of warrants related to the Series E Stock (the “Series E Warrants”), the conversion of the October Debentures, the conversion of other outstanding debentures and the exercise of the October Debenture Warrants. Accordingly, we do not currently have sufficient authorized shares of common stock available to meet our contractual obligations under these instruments.
