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Friday, July 22, 2005 12:56:12 AM
Filing with the Secretary of State is a corporate filing not a securities filing. It relates to the corporate structure. It is the same as a name change or a change in officer.
Often corporations make changes in authorized shares just to have the shares available in the future. Again, it means nothing unless the shares were actually ISSUED and OUTSTANDING. They may never be issued. Given the company's PR's, it's likely they will never be issued.
If not, they are merely possible shares and will not "hit the market" or otherwise affect the supply of shares.
But this is something that needs explanation.
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