"Directors shall use commercially reasonable efforts to cause the Company to file a Form 14A with the Commission to increase the number of authorized but unissued shares of Common Stock so that at least 200% of the Required Minimum shares of Common Stock are available for issuance upon conversion of this Note and payment of interest on this Note at such time, as soon as possible and in any event not later than the 60th day after such date."
The vote is to be done in a few days before 60 days, i.e. 56 days from now or something like that.
Based off that I believe they are increasing A/S as necessary to retain 25,000,000 shares....
However if we deny them that ability, who's to say what will happen?
I think we max out A/S somehow to 300million as opposed to 4million left ~ ~ ~ idk
Well said but the 200% amount and the 25,000,000 are two totally different numbers right? The 25,000,000 is to be reserved "at all times" and the 200% was to be available on the closing date and is more like 40,000,000 isn't it?. Also there is the 15,000,000 and further 200% (or around 30,000,000) in the previous filing. This is just for this month..
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