Very important information for a stockholder to understand and be informed of for their investment. In this situation, the authorized shares are just about maxed out into outstanding shares. There are no more (very few left last time I checked) and that is a problem due to all the family notes that convert to stock at maturity. That is one of the reasons that over $5,000,000 in notes (most all family) had to be extended that came due in 2022. There is no cash for payback and no authorized shares to accommodate conversion. But the CEO will say she is doing everyone a favor by foregoing interest. That IMO is amusing as there is not enough cash to pay that interest. And not enough authorized shares of common stock to satisfy conversion. AND let us not forget that the family and a select few get their converted stock at 50% discounted stock price. So double the amount of shares they will get. They will have to raise the authorized shares someday and that will NOT be received favorably by the market. Not good for 'true longs' or for anyone 'holding tight' to their shares at that time.
SO MANY RED FLAGS, that I lost count. How many just in this topic?
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