Pervasip Corp (PVSP)

[Arthur]

CEO Riss owned only 9,088,533 shares as of November 28, 2011, so 8.92% of the company.
He has been diluting his own ownership, alongside eveyone else, of course.

But, despite owning only 9% of the shares, he controls 49% of all the votes, thru the newly created series C shares. Each Series C share counts as 1,959,565 common shares for voting purposes.

With the Series C Privileged shares, that he didn't buy but gave to himself, the CEO+CTO control 51% of the company, so they don't need shareholders approval to do whatever the heck they please with the company that they put so disastroulsy in debt over the years.
They cannot possibly be voted out of the island.