Replies to post #31560 on Michelex Corp (fka MLXO)

[Deano361]

Nothing except the fear of the SEC investigation for fraud if they don't go away quietly I guess.

[harr449]

Question, does management have the shares to pass an issuance for an increase in authorized shares?

Not sure but think an SEC filing has to be issued and shareholder vote if management doesn't have a majority.

Increase in authorized also has to be filed with State of Incorporation, Utah.

[sawdin]

They can not do that. That requires a meeting of the shareholders, which requires that specific procedures be followed regarding notification and timing of meeting. In addition, they would need to hold a majority of the votes after going through all that. THEY CANNOT INCREASE THE AS!