Authorized Shares doesn't really matter.
If they execute according to plan they won't need them and can reduce it later.
As long as they still have the convertible notes on the books and haven't paid them off or absolved them somehow, legally, they must have a large enough A/S for the worst case scenario.
As it sits the OS is 538K a far cry from that 20B number and before the R/S they only got to 10% of that A/S number.
They already absolved $1.1M 45% of their convertible notes for a 2.5% ownership stake. They said they were working on reducing or getting rid of the rest.
They have an equity investor on board to use if the share price can climb higher.
As I see it, while this coronavirus mess is going on they are not going to do much to promote the company. These are uncertain times.
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