No not specifically, but when companies combine it is usually through cash and stock deals, therefore my terminology is "stock" as currency" This in no way means buying out another company or being taken over. It affords the directors to use these authorized shares to keep the company afloat.
Putting the other statement about not being able to pay interest on notes, tells me Mr Lenfest is no longer going to continue to fund or push back the timeline for repayment. As my previous post highlights from 4Xe financial statement in the Proxy. Being run on a deficit for years with no profitability is problematic. If this is voted for by the shareholders,those shares will be available for the directors to do with as they please according to SEC rules without further shareholder approval....as per proxy.
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