Yes, he just might have to increase Authorized Shares, but being conservative, it will be a modest number, and he will do it at the appropriate time in the process. Its just a filing, and it’s most likely a necessary filing. You have to leave enough room between the final outstanding share amount and the higher Authorized Share amount, so that the reverse merger candidate can have Treasury Shares “on hand” for employees, management, 401k plans, ESOP plans and shares to use “down the road” for the new company to use in “Secondary Offerings” to raise capital. But we all know that Mr. Sharp is anti-dilutive in his actions. Evidence of that conservativeness is when he CANCELLED 93% of outstanding shares, 219.0 million of 235.0 million shares, leaving just around 16.8 million shares outstanding. What a move that was!!!
:-)
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