Posted On: 06/03/2016 12:50:07 PM
Post# of 72443
Good point, Drano. Management also has Class B shares with ten voting rights per share to prevent any hostile takeover.
"Common Stock - Class B, (10 votes per share); $.0001 par value, 100,000,000 shares authorized, no shares issued and outstanding as of March 31, 2016 and June 30, 2015, respectively"
http://www.discountedgar.com/data/ctix/filesU...033116.htm
"Common Stock - Class B, (10 votes per share); $.0001 par value, 100,000,000 shares authorized, no shares issued and outstanding as of March 31, 2016 and June 30, 2015, respectively"
http://www.discountedgar.com/data/ctix/filesU...033116.htm
Quote:
So with that 44.18 million shares, it would take just 19.6 million shares in the hands of shareholders to control just over 50% of the stock, so that we could defeat a buyout proposal.
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