I've been waiting for something like this. You can

I've been waiting for something like this. You can tell who actually read the filing vs jumping a message board 5 seconds after the filing. I had time, so I read it...

Quote:

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The board of directors determined that the Increase in Authorized Common Shares Amendment is in the best interests of the Company and unanimously recommends approval by the stockholders. The board of directors believes that the availability of additional authorized shares of common stock is required for several reasons including, but not limited to, the additional flexibility to issue common stock for a variety of general corporate purposes as the board of directors may determine to be desirable including, without limitation, future financings, investment opportunities, acquisitions, or other distributions and stock splits (including splits effected through the declaration of stock dividends) .

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Quote:

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The increase in authorized number of common stock could also discourage or hinder efforts by other parties to obtain control of the Company, thereby having an anti-takeover effect . The increase in authorized number of common stock is not being proposed in response to any known threat to acquire control of the Company.

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Quote:

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The Company is also in discussion with one of its debt holders to settle the debt for shares of its common stock in full satisfaction of the debt.

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Is this the debt from Nov. or some other. Why pay off the loan that isn't due until May 7, 2024?

Seems like the company is cleaning house.

Why?