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Getitgogone

04/15/16 9:25 PM

#3036 RE: frankie_fillet #3034

I may be wrong Frankie,,, but you are correct ... I see no authorization by voting ... only the vote for the 1:6 R/S

So , just out of curiousity I went on a little informational journey but haven't spent a long time on it.However,since I was doing it just to satisfy my curiousity ... why waste the information I found >>>>

1. Unless otherwise provided in the articles of incorporation, a corporation that desires to change the number of shares of a class or series, if any, of its authorized stock by increasing or decreasing the number of authorized shares of the class or series and correspondingly increasing or decreasing the number of issued and outstanding shares of the same class or series held by each stockholder of record at the effective date and time of the change, may, except as otherwise provided in subsections 2 and 3, do so by a resolution adopted by the board of directors, without obtaining the approval of the stockholders.

SEE NRS 78.207

https://www.leg.state.nv.us/nrs/NRS-078.html#NRS078Sec207

I think they pulled a fast one on shareholders to say the least ... but it appears they can do it. Like I said I might be wrong but it is what I found.I think that's how they covered their ask on this one!

This is the Main link but have to click on NRS 78.207

https://www.leg.state.nv.us/nrs/NRS-078.html