RushNet Inc (RSHN)

[sojourner]

Rock: Short answer is no filing required for O/S increase. RSHN is a non-reporting pinkie. Filing required for increase of A/S.

By the way, every shareholder should care about the private placement that RSHN mentioned in last PR. It means more shares will have to be issued. The terms of the deal? If company is weak financially, the private money men will call the shots favorable to them, not existing shareholders. "More capital will be needed for new production locations and the Company is seeking private placement capital at this time."


http://www.businessdictionary.com/definition/authorized-share-capital.html
Definition of authorized share capital:

Maximum value of securities that a firm can legally issue. This number is specified in the memorandum of association (or articles of incorporation in the US) when a firm is incorporated, but can be changed later with shareholders' approval.

Authorized share capital may be divided into (1) Issued capital: par value of the shares actually issued. (2) Paid up capital: money received from the shareholders in exchange for shares. (3) Uncalled capital: money remaining unpaid by the shareholders for the shares they have bought.

Also called authorized capital, authorized stock, nominal capital, nominal share capital, or registered capital.