No, they declared the fillings void as they were filled incorrectly, the result of those incorrect fillings remain intact.
That's not what the Articles of Correction form said at all.
Take a look at the form which rescinds the change in the AS from 5B to 300M:
It clearly states under Item 3 (Incorrect Statement), that the two incorrect statements in the original Articles of Amendment filing were the:
1) Article 6 indicating the reduction in Authorized Shares
2) That a shareholder vote was not required.
Item 4 (the Correction) clearly indicates that the Articles of Amendment filed on Jan 29, 2010 is rescinded and null and void in their entirely.
That doesn't mean that the incorrect filing remains intact, but that it no longer exists!!
The same is true with all the other Articles of Amendment effected by the Articles of Correction. Those articles are null and void, which means that legally, they no longer have any say as to changes in the Articles of Incorporation.
Therefore, the Articles of Incorporation have never been changed, and they still say that there are 5B shares Authorized.
I do not have to call the company, as they will lie to me just as assuredly has they are now lying to all the shareholders.
It may be a lie by omission, but it is a lie nonetheless.
The company cannot cap the number of Authorized Shares at 950M because the number of Authorized Shares IS 5B.
The only thing MJNA management can do is say that they've capped (for now) the number of OUTSTANDING SHARES at 950M.
It's perfectly fine to say that AS is 5B, but management will hold the line and not issue more shares beyond 950M, but it's a lie to say that the number of Authorized Shares is anything but 5B, unless they can show some legally approved-by-the-shareholders documents that say otherwise.
AI
