No decreases in the authorized shares either
If you're considering being a hero and buying here, plenty of time to wait. See if Anshu can at least deliver something close to his very aggressive gross margin target.
The revenue target is on a "run-rate" basis, so the implication is that he will deliver $12.5mm in revenue in Q4 2021. Certainly possible if he has enough working capital, but the gross margin target seems way too high. We shall see.
Authorized Shares of Common Stock
The Reverse Stock Split will not change the number of authorized shares of the Company’s Common Stock under the Company’s Certificate of Incorporation. Because the number of issued and outstanding shares of Common Stock will decrease, the number of shares of Common Stock remaining available for issuance will increase. Currently, under our Certificate of Incorporation, our authorized capital stock consists of 7,500,000,000 shares of Common Stock. The Company intends to use its authorized but unissued shares of Common Stock to comply with conversions pursuant to its outstanding convertible notes and preferred stock together with the exercises of its outstanding warrants. In addition, the Company may use its authorized but unissued shares of Common Stock for future financings, investment opportunities, acquisitions, or other distributions and stock splits (including splits effected through the declaration of stock dividends).
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