To the best of my knowledge, an increase in the authorized shares of a Nevada corporation need only be approved by the board of directors, not the shareholders themselves. And also to the best of my knowledge, the SEC (as a federal agency) does not have the authority to regulate an issue of corporate governance such as this - only to require prompt and full disclosure of any material changes.
I could be wrong though. Can you point to any specific SEC rule or regulation or Nevada law which defines shareholders' rights w/ respect to an increase in the authorized shares of a Nevada corporation?
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