Exactly Right from the way I read it.

.....nor do I think it out of line to ask and expect some quid pro quo wrt to future spinoffs

.....not happy, am I

for example if one had 1M shares and it became 40K shares after RS
w/contract(s) coming thereafter. Well when sp starts increasing by $1
that would represent $960,000 for each $1 increase that one would not receive.
yeah they would see the $40K increase, but why forfeit the potential?

If QMC announces contracts, the sp will w/o a RS. Sales are already expected in 2017. We've waited for yrs already, so why not a little longer? I'm not in that much of a rush, as I'd rather keep the potential w/o something to offset it.

Nevada Law seems to favor investors more.
The protection being if one did acquire most of the shares voting would have to ok'ed by BOD. So where is there any benefit for the sh?