IAHL Corporation (IAHL)

[Son of Jr]

I can answer that one. A reverse split can only be done by a proxy of the share holders. If the case is that the number of preferred exceeds the number of common shares, then there is no need to even have the common share holders vote so long as the total # of the votes of the preferred shares in favor of the proxy exceeds the sum number of common and preferred that could be cast against the proxy.

Now if the deal was never consummated, ie payment made, then the MM's are the ones who voted FOR the split. The shares never were delivered thus ownership (and voting) rights never changed hands. There would be no reason to revert back, but if they wanted to they could by taking another proxy vote among themselves. Now if just one guy owns all the preferred then it is always a non-contest unless that individual is seriously schizo, or owns LESS then the common share holders. I expect that a new R/S will take place in the near future.