The authorized shares went from 3.5 billion to 3.9
Post# of 41414
The authorized shares went from 3.5 billion to 3.986 - an increase of 486 million (about 14%).
My guess is that it was done to give the investor group the ability to buy shares at .005 and provide Baltia with about $4 million to finish up certification. (486 million new shares plus 323 million that were still left unsold from the last increase = 819 million @.005 = $4.1 million).
It doesn't please me, but it is a way for the group to fund Baltia's activiites without the need to file an 8-K or alert the market in any way (if the shares were purchased and split up among 5 or 6 people in the group).
By not letting the market know about the financing, all the market sees is the increase in authorized shares - might get disgusted and sell - and the pps could go sub penny.
At that point, the group then can purchase millions of more shares at a very cheap pps on the open market..
A brilliant strategy to shake out the gutless.....................................
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