Itrade, I think you confuse what a shareholder, or to be specific... the common shareholder is to a penny stock company. Common shareholders (to be called CS further) are a means of income, usually an income to the officers of the company, not necessary income to the company. Since a large percentage of penny corps are considered shells, with no income to report and mostly lacking product, CS monies can be their only income. Viewing daily otcbb evidence has shown that these corps consistently ignore CS. Evidence to this is the common practice of omitting CS rights of vote, by proxy or meetings.
Warrants, preferred shares most always have rights of vote.
Buying penny stocks IS a gamble… and the number of pennies that make it is still quite low.
I think Itrade, you put too much importance on CS with marginal companies, and with shell companies as well.
So, in english, IMO most penny corps don't give a rat's patooney about lowly common shareholders..!!!
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