Let me explain it some more. The AS and OS were maxed out when he took over the company so he had no shares to be able to issue for deals. The prior company had old notes and in order to be able to issue shares in the meantime they increased the AS. Now when they buy back shares and retire them they can then reduce the AS back down but they have to get old noted and shares bought back and retired first. This was discussed here already. Looks like some of you did zero DD before buying and now are panicking about something you know nothing about or even understand
The explanation for the increased to 5 billion was stated on here a while back. Manzo pharmaceuticals did not increase the authorized shares, it was increased over prior years by the previous management via toxic funding, which is what we were chewing through in the previous weeks that kept whacking down the price. The previous management did not update the OTC and when Manzo took control and filed all things up to date is when it was announced.
Because CEO needs startup money. He will Max out the O/S while diluting/shorting thru the MM's. I told everyone it will come back down to the .0003 range weeks ago. In a yr you should see some improvement after he does a R/S.. FOGC is a good long term 1 yr hold... GL
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