I don't know why the TA is still reporting 990, Jeff Foley says
Quote from Jeff Foley regarding authorized reduction:
Foley closed by noting "We have also reduced our authorized shares from 990 million to 740 million. We have done this as a further indicator to the investment community of the direction that the company is heading. We no longer need to issue large blocks of shares to fund the company and instead only need the ability to cover ongoing employee commitments and leave room for possible further growth through mergers and acquisitions."
It's no mystery. NanoTech has filed an amended articles of incorporation reducing the authorized shares to 740,000,000. That filing can take up to thirty days to propagate and make its way to various repositories of information. We have provided the TA with the amended articles and I'm sure at some point they will update their database to reflect the new lower number.
As to to misinformed claims of dilution there has been none. NanoTech has reported it's updated post reduction and post acquisition numbers that net out to just over 499 million shares. Again because of the complexity of the deals and getting all of the appropriate sign offs signatures and filings it may take a couple of weeks for everything to show up at other sources however the numbers posted on the NanoTech website and the OTC markets site is always the most current and accurate numbers.
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