TXMC should be coming out with a PR explaining why the Series A Preferred shares increased. I have no idea why they increased but, IMO, it has something to do with the meeting that took place last month. What is your thoughts?
From the 8-K filed today:
Item 5.03 Issuance of ten (10) million Series A Preferred Shares
The Board of Directors, pursuant to its 'Blank Check' powers as povided in the Corporation Certificate of Formation, unanimously directed an increase in the number of Series A Preferred shares from million (5,000,000) to fifteen million (15,000,000) shares. The share preferences and conditions attached to this series of preferred shares were previously determined by the directors, and did not change. These Series A Preferred shares provide voting rights of 100 votes per share and each blank check preferred share will be convertible into five (5) common shares.
The differential ten million(10,000,000) Series A Preferred Shares became issueable on or about April 3, 2009 to directors and an officer of the corporation.
Item 8.01 Other events
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