Silver, according to the first paragraph of Propsal II the common share count increases to 1,500,000,000 but is subject to the 100:1 R/S, thus 15,000,000 is what I calculate. The relatively small number of currently authorized but unissued shares is less cushion than I would like to see, but I could be a whole lot happier with an increase well south of doubling the number of authorized shares.
I share your general assessment of the current board as operating this company in a manner which is not the typical "stinky pink" thus I am not sure what I will ultimately decide. The company does need to have more than the currently authorized but yet to be issued shares for regular and anticipable business purposes. I am just a bit put off by a potential 100% increase in the float and consequent 50% decrease in my interest.
Given that just a couple of days ago Mark said that Sigma is positioned with enough cash and cash expected from existing contractual obligations to carry through for the year, I am less convinced that there will be such time pressure for additional financing in the reasonably near future that this proposal needs to be approved.
I am open to deeper thinking about this than I have given - either my own thoughts or those of others. Not at all sure that there can be a modification of the proposal,at this point in time.
patience and GLTA
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