Endurance Exploration Group Inc (EXPL)

[Dina]

I don´t understand todays filing: http://ih.advfn.com/p.php?pid=nmona&article=58042683

The Company’s CEO, Micah J. Eldred, commented, “We have made significant progress in the restructuring of the Company, but have reached the limits of the number of shares authorized for issuance. Without receiving approval by shareholders to increase the issuable shares, we will not be able to complete our restructuring goals, NOR will we be able to complete any business combination, merger, or reorganization. I urge all shareholders to vote in favor of the proposals presented in the current proxy materials.”

If they have 51% why do they need us for the voting so badly(sounds that way to me)?

They could split the stock without any voting but they can´t increase a/s without us, sounds odd to me!

I would make a forward split. This is how smart companies would do it instead of reverse split and then they are not happy with their number of shares and need us to get more shares and we have lost 98% of our shares!
Not fair, not smart but sure they need it for a reverse merger! ;) They need it because they are greedy!
Of course a merger is planned but they do it to get more shares and i think THEN we should get more shares too.
You don´t get my vote!
A forward split is the only split which makes sense here!
Sounds like failure of management the way they have chosen!
Stealing our shares, then increase the a/s to same we had pre split and o/s will be 40m, after we have lost 98% of our shares and then a merger happens! Not fair!