Rich, as I have stated many many times...megola has authorized 200,000,000 and have issued out their max authorized..
...ISSUE .. there are Preferred shareholders ( I am one of these) and there are also toxic lenders who have convertible loans ( see last financials as it is even in there)that CAN NOT convert because megola illegally (TA aswell) issued more common shares then they are authorized..
..SO that said the company needs to increase authorized or do a R/S...the R/S would require financials updated, proxy votes etc etc but increased authorized merely majority class votes...which by financials they have issued preferred with vote control...so they are in process of doing this as they are required by state laws, SEC regulations...IF they don't it gets shut down ! FYI, this isn't something that just occurred, its been an ongoing issue for some time..ask the TA...they even sent request to company to cover their asses.
And the newauthorized they will need because of conversion rates is minimum 1B...read financials and see what toxic lenders conversion price discounts amounts to.
So do some DD instead of calling someone a liar
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