"HOW DOES ONE PISS EVERYONE OFF THEN ASK FOR INCREASE."
Well now, Sullivan is not really asking, in my opinion. Read....
" Failure to obtain stockholder approval for the increase in the number of authorized shares of our common stock will have a material adverse effect on the Company and may result in the Company being unable to continue as a going concern.
Instead of asking, he is telling share holders, "Vote YES for A/S increase or lose your investment" (or what little there is left of it anyway). So, does a share holder vote "NO" and the company closes its doors? Or does a share holder vote "YES" and hope Sullivan pulls the company out of the mess he created?