The filing says that they can use the additional shares to
buy other businesses (item ii below)
"The Board believes that an increase in authorized common stock would provide the Company with increased flexibility to issue and/or sell common stock from time to time at the discretion of the Board , and without further authorization by the stockholders, for one or more of the following business purposes: (i) in public or private offerings as a means of obtaining additional capital for the Company’s business; (ii) as part or all of the consideration required to be paid for the acquisition of ongoing businesses or other assets; (iii) to satisfy any current or future financial obligations of the Company; (iv) in connection with the exercise of options, warrants or rights, or the conversion of convertible securities that have been or may be issued by the Company; or (v) pursuant to any benefit, option or stock ownership plan or employment agreement."
I have a couple of questions
1.) Could the 78 billion shares that will remain authorized but unreserved/supposedly untouched perhaps be to avert a takeover? In other words, having that many unauthorized shares could, as the statement below implies, be available to prevent any one person(s) from having too many shares?
"Moreover, the issuance of additional shares of common stock could discourage attempts to acquire control of the Company by tender offer or other means."
2.) Is there any way on Earth that this thing will stay at $0.0004 tomorrow & in the coming days in light of this debacle???????
