BioSante Pharmaceuticals, Inc. (BPAX)

[nutsyprofessor]

They want to issue ANI's ownership portion without increasing the number of outstanding shares. It would be wasteful to use up some 26 million new authorized shares just to absorb the merger. A company's authorized shares should be used when the company needs capital/funding. So in reality using up 26 million of un-used authorized shares just to absorb a merger would be considered a no-no and the Company/BOD would be seen as acting in a non-fiduciary manner if they wasted these authorized shares.