TheDirectory.com Inc (SEEK)

[FinanciallyFree]

Here is his reply on FB...is he legally bound to tell shareholders that the a/s was raised? (I'm asking a question I have no idea)

TheDirectory.com
31 December 2013
Dear Shareholders,
The recent increase in authorized shares was necessary to facilitate our future growth, but more importantly it was needed for the Company to stay in compliance with our $5 Million credit facility and our other debt obligations. Increasing the authorized shares also removes the need for a reverse stock split in the foreseeable future, which I view as very positive based on the current growth of our Company. We’ll discuss the future capital structure in more detail during our next conference call later in January. I wish everyone a very Happy and Healthy New Year.
Best Regards,
Scott Gallagher
Founder, Chairman and CEO
TheDirectory.com