Replies to post #23038 on Bitzio, Inc. (fka BTZO)

[profithigh]

I updated the other message to explain more

[profithigh]

The increase is an obligation that BTZO has within the debt agreement with FF.

They HAVE TO have the shares on reserve for FF even if they plan to pay the debt off. They HAVE TO have them ready to issue.

It's an obligation that BTZO has, that's why the increase in the A/S.

http://www.sec.gov/Archives/edgar/data/1347078/000149315215000635/pre-14c.htm

"The Board of Directors approved the amendment to increase the number of authorized shares primarily in order to comply with Bitzio’s agreement with its senior creditor, 112359 Factor Fund, LLC (“Factor Fund”). The convertible debt instruments held by Factor Fund require that Bitzio reserve a sufficient number of shares of authorized common stock to enable conversion of the convertible debt issued by Bitzio to Factor Fund. At the present time, Bitzio does not have a sufficient number of authorized shares to satisfy the reserve requirement."