Global Arena Holding Inc (GAHC)

[rjefferson1]

State of Delaware requires shareholder approval,so those shares are not valid that milk dud just creates
If you already own a Delaware General Corporation with only one class of stock, then your Board of Directors, with shareholder approval, can authorize a second class of preferred stock. If you can’t get your Board to approve it, or if you can’t get your stockholders to approve it, you’re effectively blocked and powerless. Once the shareholders approve the authorization of the stock, the Board is free to negotiate the terms to attract capital, to inspire top people or to create strategic alliances using the blank check preferred stock as a form of currency.