Yep could you imagine a repeat of what they did last quarter? they went all they way up to 10,163,249 shares issued and outstanding from the previous- 10,063,249
The recent financings could give some incentive to limit those issuances.
“Exempt Issuance” means the issuance of (a) shares of Common Stock or options to employees, consultants (provided that such issuances to consultant shall not exceed 500,000 shares in any 12 month period, subject to adjustment for reverse and forward stock splits and the like), the Company officers who are serving in such capacities at the time of Closing, or directors of the Company pursuant to any stock or option plan duly adopted for such purpose, by a majority of the non-employee members of the Board of Directors or a majority of the members of a committee of non-employee directors established for such purpose, (b) securities upon the exercise or exchange of or conversion of any Securities issued hereunder and/or other securities exercisable or exchangeable for or convertible into shares of Common Stock issued and outstanding on the date of this Agreement, provided that such securities have not been amended since the date of this Agreement to increase the number of such securities or to decrease the exercise price, exchange price or conversion price of such securities and (c) securities issued pursuant to acquisitions or strategic transactions approved by a majority of the disinterested directors of the Company, provided that any such issuance shall only be to a Person (or to the equityholders of a Person) which is, itself or through its subsidiaries, an operating company or an owner of an asset in a business synergistic with the business of the Company and shall provide to the Company additional benefits in addition to the investment of funds, but shall not include a transaction in which the Company is issuing securities primarily for the purpose of raising capital or to an entity whose primary business is investing in securities.
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