There is no legal issue. They can simply do it. I am trying to find out if they would be required to have a vote if they did not have the required 50%. Looking back at almost every SEC filing, which I highly recommend anybody with a lot of money invested do so, they have never had a vote to increase shares and they have done it many times. The 10k filing in march of 2008 had the number of A/S at only 40,000,000!!!
That is a crazy amount of increasing in a very short time frame.
Some very strange things in those filings too. Larry ditto once paid 50,000 for 500,000 shares of common stock. I am sure he is not too thrilled with that one, lol.
News 
Market Data 
Discover 
AI
