jacobboaz, Interesting paragraph there. It sure seems (in this limited context, at least) to say that a special meeting should have been called and an A/S increase proposed many months ago.
"If at any time the Company does not have a sufficient number of Conversion Shares authorized and available, then the Company shall call and hold a special meeting of its stockholders within sixty (60) days of that time for the sole purpose of increasing the number of authorized shares of Common Stock."