Plastipunk, this is from the May announcement
May 10, 2006 09:20:00 AM ET
Integral Technologies, Inc. ITKG ("Integral"), announced today that an increase in the authorized share capital of the Company's common stock has been approved at a Special Meeting of Shareholders held on April 28, 2006.
The proposal by management to increase the authorized common shares from 50 million to 150 million received overwhelming support, with 93.5% of shares voted in favor of the proposal and less than 0.3% of shares voted abstaining.
The Company has been advised by a number of warrant holders of their intention to exercise their warrants prior to the expiration date of June 30, 2006. These warrants originated from previous private placements.
You weren't here back then, but there were dire predictions at that time that the share price would plummet to lows never seen before. Guess what? It didn't happen. Moreover, it doesn't appear to this investor that the most recent private placement of approximately 3m shares had any lasting impact on the share price.
Another thing to consider is that, Integral only has 45.5m shares outstanding, which is EXTREMELY low. The float, obviously, is considerably less than that.
Financing their day-to-day operations does not currently appear to be an issue with Integral, at least not for the next year or so. By that time we should have some form of revenue flow to help offset any existing needs.
Thanks,
gktignol
