Why put these words in the latest SEC filing?
"The Charter amendments also restates the “blank check” treatment for the Company’s authorization and issuance of preferred stock, regarding series of preferred stock that can be established by the resolution or resolutions providing for the issue of such stock adopted by the Board of Directors. The Board of Directors shall maintain the power to establish the rights and preferences for series of preferred stock. The availability of this type of preferred stock will enable our Board of Directors, without further stockholder approval, to issue shares of new series of preferred stock as may be required for proper business purposes, such as raising additional capital for ongoing operations, business and asset acquisitions, and other corporate purposes, that our Board of Directors believe will benefit our stockholders. One of the effects of the blank check preferred stock authorized by the Charter amendments might be to enable our Board of Directors to render it more difficult to, or discourage an attempt to, obtain control of us by means of a merger, tender offer, proxy contest or otherwise, and thereby protect the continuity of present management. Our Board of Directors would, unless prohibited by applicable law, have additional shares of preferred stock available to effect transactions (such as private placements) in which the number of our outstanding shares would be increased, and would thereby dilute the interest of any party attempting to gain control of us. Such action could discourage an acquisition of us that stockholders might view as desirable."
(Do we really want to protect the continuity of present management?)
"The only thing necessary for evil to succeed is for good men to do nothing"
