Nice poison pill....for INSV
Preferred Stock
Our board of directors has authority, without further action by the stockholders, to issue up to 5,000,000 shares of preferred stock, $0.01 par value per share, in one or more series and to designate the rights, preferences, privileges and restrictions of each series. The issuance of preferred stock could have the effect of restricting dividends on common stock, diluting the voting power of common stock, impairing the liquidation rights of common stock or delaying or preventing a change in control of our company without further action by the stockholders.
Nice deal. I see potential for a pump...but who are the owners of the PP? If they are already friendly shareholders, then KBLB would have to have the same kind of friends. PP's are absolutely the best kind of financing. Rule or exception for OTC/pink sheet stocks??
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