Greenshift Corporation (GERS)

[radcardnel]

I know, right? LOL. But to their "credit" the A/S won't remain at 20 billion after the R/S, it'll be about 2.4 billion. Of course they can add to that without shareholder approval LOL.

From the PRE14C:

As a result of the Reverse Split, there will be about 2.4 billion common shares available for issuance. The Board of Directors will be authorized to issue the additional common shares without having to obtain the approval of the Company’s shareholders. Delaware law requires that the Board use its reasonable business judgment to assure that the Company obtains “fair value” when it issues shares. Nevertheless, the issuance of the additional shares would dilute the proportionate interest of current shareholders in the Company. The issuance of the additional shares could also result in the dilution of the value of shares now outstanding, if the terms on which the shares were issued were less favorable than the contemporaneous market value of the Company’s common stock.