Sigh.
Let me clear this up for you one last time.
As of the last filing on May 19th, the company has 2 billion shares authorized which means potentially 2 billion common shares could be outstanding an in the hands of any number of individual investors. Each one of these common shares has ONE (1) vote applicable to any voting issues in the company. (Note here however than RME owned by the company essentially holds several hundred million shares of common stock)
The companies management aka Steve, Michael holds 20 million shares of Class B stock. Each share of class B stock holds 100 votes each for all voting issues.
Now do the math. 20,000,000 x 100 = 2,000,000,000 (2B) votes.
Now guess what? NO one can own this company without a majority amount of votes needed to control the company. Since management via its 2B votes through its class B shares CANNOT be overridden no matter how many shares of common stock that any individual or group owns. It's IMPOSSIBLE.
Thus as I already said the theory of increasing the A/S as a means to prevent a takeover is nonsense because it simply is not needed. By the way the preferred share holders have NO rights to cast votes so take them out of the picture.
Tell whoever told you this they are full of baloney.
To illustrate my point, you watch when the next 8K comes out it will read just like this.
The company has increased its Authorized Shares common shares to 2.5B, Its Class B shares to 25M, etc etc. Again doing the math 25M x 100 = 2.5B votes.
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