Propellus Inc (PRPS)

[EastCoastCdn]

I believe they did not have majority of the shares at that time. The board of directors cannot just do something because they or you feel like it if they don`t have the majority. That is why I was surprised they didn`t have preferred shares to knock out the little guy.
I suspect there will be peferred shares in the next 10-K.
I have to wonder if this company is a pinksheet because it sure behaves like one IMO.
I have owned companies where I have had to vote on R/S because the company did not have majority of the shares outstanding.


This is from the NVSOS

2. The board of directors have adopted a resolution pursuant to NRS 78.209 and have obtained any
required approval of the stockholders.

http://nvsos.gov/Modules/ShowDocument.aspx?documentid=664