8K out increasing the authorized shares to 950 mil
Post# of 7802
Posted On: 02/20/2014 2:13:30 AM
8K out increasing the authorized shares to 950 million. Figured they would have to at some point. Not a big deal to me at all but I'm sure it will be for some. Another issue is the 60 votes for the BOD to allow for the increase of shares. The laws have changed since the last increase of authorized shares. Previously the BOD of a company could approve an increase of shares by a simple vote. Now, an increase of shares must be approved by all shareholders. This is expensive and time consuming for the company. So while an unusual move from the BOD, it was the best move for the company. And legal.
Of course, who knows what the BOD could do with all that newfound power. They might even vote to actually start PAYING Kyle to run the company since he's been working for FREE for, what, seven years now?. Oh wait, they could already do that. Kyle wouldn't let them anyway. He gets paid when we all get paid. Again, not a big deal for me, but might be for some. Looks to me like KK will do whatever it takes to get this company to treasure.
If you think Kyle has done a terrible job running the company in the past and has used his position to benefit himself somehow, this new BOD vote would be a red flag. As it is, Kyle Kennedy has managed to keep this company going against all odds, where all others have failed and he has made steady progress with multiple permits from the state, a turnover of state employees who were anti-treasure, collection of one of the finest crews in the industry and jumping over more obstacles than you could imagine created by an industry that was forced underground due to a lack of cooperation from the state permitting entity. Let's face it, KK is turning this industry inside out and restructuring it to work WITH the state instead of AGAINST it. I equate it to investing in Anheuser-Busch at the end of prohibition – if the owners of AB worked for free and purchased their own stock. You get the idea.
Anyway, I had to put my 2 cents in. At least as I understand it. Could be completely wrong.
Of course, who knows what the BOD could do with all that newfound power. They might even vote to actually start PAYING Kyle to run the company since he's been working for FREE for, what, seven years now?. Oh wait, they could already do that. Kyle wouldn't let them anyway. He gets paid when we all get paid. Again, not a big deal for me, but might be for some. Looks to me like KK will do whatever it takes to get this company to treasure.
If you think Kyle has done a terrible job running the company in the past and has used his position to benefit himself somehow, this new BOD vote would be a red flag. As it is, Kyle Kennedy has managed to keep this company going against all odds, where all others have failed and he has made steady progress with multiple permits from the state, a turnover of state employees who were anti-treasure, collection of one of the finest crews in the industry and jumping over more obstacles than you could imagine created by an industry that was forced underground due to a lack of cooperation from the state permitting entity. Let's face it, KK is turning this industry inside out and restructuring it to work WITH the state instead of AGAINST it. I equate it to investing in Anheuser-Busch at the end of prohibition – if the owners of AB worked for free and purchased their own stock. You get the idea.
Anyway, I had to put my 2 cents in. At least as I understand it. Could be completely wrong.
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