Investors be warned:
There we go: the Zinco-Team in action... Celldonate becomes Gold Torrent Inc.!
Any more doubts needed?
This is their action:
The Increase of Authorized Capital would authorize the Companys Board of Directors to effect an Increase of Authorized Capital of the Company from 100,400,000 shares to 220,000,000 shares, which shall be divided into two classes as follows: 200,000,000 shares of Common Stock, and 20,000,000 shares of Preferred Stock.
The general purpose of the Increase of Authorized Capital is to enhance the Companys ability to finance the development and operation of its business. Potential uses of the additional authorized shares of common stock may include public or private offerings, conversions of convertible securities, issuance of options pursuant to employee benefit plans, acquisition transactions and other general corporate purposes. Increasing the authorized number of shares of the Common Stock will give the Company greater flexibility and will allow the Company to issue such shares in most cases without the expense or delay of seeking stockholder approval.
the Companys board of directors will have the authority to issue authorized shares of common stock without requiring future stockholder approval of such issuances,
The Companys Board of Directors and holders of a majority of the voting power of our outstanding capital stock have approved the ratification of the Companys 2013 Incentive Stock Plan (the
Plan a copy of which is included as
Appendix B pursuant to which the Company may grant an aggregate of 20,000,000 shares of the Companys Common Stock to the Companys directors, officers, employees or consultants.
Description of the Plan
The Board believes that in order to attract and retain the services of executives and other key employees, it is necessary for the Company to have the ability and flexibility to provide a compensation package which compares favorably with those offered by other companies. Accordingly, on November 22, 2013, the Board adopted, subject to stockholder approval, the Plan, covering 20,000,000 shares of Common Stock. The Plan has been designed to provide the Board of Directors with an integral resource as it evaluates the Companys compensation structure, performance incentive programs, and long-term equity targets for executives and key employees.
Generally, the persons who are eligible to receive grants are directors, officers, employees or consultants to the Company.
