Thanks for the comments. I had assumed that the number of authorized shares would have been R/S also. Isn't that the way it is supposed to work? I agree with you that if the number of authorized shares is not reduced then Bob can just fire up the printing press and we will all be poorer.
EMPY is another case of 3 RSs that did nothing for the company. The first 2 resulted in redilution. The third is holding, so far, but has done nothing to help the company either.
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