OMDA Oil and Gas, Inc. (OOAG)

[rrufff]

You have made excellent points in your posts. However, note that the PR does not say he is reducing authorized share count with respect to the preferred. The PR is open to interpretation both ways. Is that intetional? There is a lot of talk about topics such as "having a meeting," "thinking about acquisitions," "changing names to reflect some future business" and the like. No real specifics other than day dreams.

Also note that he can reduce the authorized share count down to 300 million and then do a reverse split 1/1000 and pretty much start again, keeping his preferreds for whatever he wishes.

In theory, he can't really do whatever he wants. There is a fiduciary governor. Management works for shareholders in theory. However, nobody is going to challenge pinky management so they get away with it. The SEC doesn't appear to be putting any resources into this type of stuff or even putting out regulations that require transparency in capital and debt structure.