RE:Vote on Increasing # of shares from 300M to 500M, Mgmt circ says:
The Board of Directors believes it is in the best interest of the Company to increase the number of authorized shares of Common Stock in order to give the Company greater flexibility in considering and planning for future corporate needs, including, but not limited to, grants under equity compensation plans, stock splits, financings and potential strategic transactions, including mergers, acquisitions, and business combinations, as well as other general corporate transactions.
The Company has no current plan, commitment, arrangement, understanding or agreement regarding the issuance of the additional shares of Common Stock that will result from the Company’s adoption of the proposed amendment.