I have 1 post left i guess lol....
so i will be careful and try to answer all the question.
Xanadu :
Well they need the approval of the Board of Director i think (almost sure) to issue new share. Also they could totally include the possibility for a certain number of share issue to have the approval of the shareholders aside of the number of share available.
To King Oil and/or Damage Inc :
You are right in the potential calculation Damage, in fact they can even raise over billions if you account the reverse split. We both know it isn't (i guess) in their plan.
Now King Oil, you think the management would be greedy and would dilute the shareholder base in their favor to become richer.
I have a quick question (or example in someway that might oppose your argument).
Let's assume they want to issue tons of stock option and raise tons of cash. It would create dilution over dilution which would pretty make the stock worthless (as no business plan would justify that) so it would make their stock option worthless... Where is the greedy part here?
You can still see another greedy view : They raised tons of cash to increase their salary or bonuses. But you miss one link in it : The Board of director must approve the salary of the management as far as i know and i guess independant director don't have any reason to vote in favor of motion that give more money to management without benefit to shareholders. I also don't see the advantage for the board member issued by Vatea to approve that too as they are the biggest shareholder. So once again, of course theorically you could think greedy is an option, but you forget that the Board of Director would have to approve it and i don't think they would accept any greedy approach from the management. Also, it all comes to a simple question : Do you trust the management or not. If you don't trust at all the management then you can assume they would try to screw you with a reverse split. But also i would advice you to sell you share because if you don't believe in the management, you pretty much assume the fact that they will manage wrongly the company so therefor there is no reason for you to own the stocks as you don't believe in their ability to execute....well..
Personally i trust the management.
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