The bottom line is authorized shares should be calculated in ownership percentages when determining how many shares would have to be acquired by any one investor to acquire a controlling interest in a company. Therefor Lugee Li would have to acquire 160 million additional shares to gain controlling interest of Liquidmetal, NOT 45 million.
Investopedia "A company may decide to maintain a controlling interest within the treasury just to ward off any hostile takeover bids".
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