Maybe it has been mentioned but isnt it conceivable that part of the reason for the increase in authorized shares is to act as a deterrent or lessen the chance of a hostile takeover, i.e....poison pill? Any thoughts?
______________________________steven m. davidoff - N.Y.T. 7/31/13
The hostile takeover is on life support, if if's not dead altogether This year, there have been a grand total of three hostile offers, according to FactSet Merger Metrics. Two of the three were for small companies worth less that $25 million. Last year, there only 12 hostile bids, FactSet reported. These days, the directors of the 5,000 or so public companies have a better chance of being hurt in a car accident than by a hostile bidder. . . . . . . . . . . . . . . . . . . . . . . . . . . .
I've seen these requests for increased share authorizations from small bio's - Voting this down, near impossible - It's frustrating, no way small investors can stop this.
For those unaware, dilution must occur before ph II results, raising money on a fail at $1 a share is not acceptable to large shareholders.
Really, name one company that has made efforts to buy this company now...dah. So we need protection from a Big Biotech that wants to BUY our shares for say $10/share. I say we need protection from Greedy Management. They want to line their pockets with 50,000,000 shares....I can hear the printing machines in the basement now over heating. Please think before you vote or we will all be holding $2 shares...50,000,000 will have a major effect. The management has not made a clear and concise argument why this is needed. Hey, Mr CEO, what the heck is the game plan? I think they should withdraw this action. if it is voted down its going to make them look really stupid. Not to mention GREEDY.
I can't take reading the Yahoo boards any more because of stupid posts from ignorant morons like you. You have no idea how stupid you sound. Biotechnology companies sell shares to raise money to advance their drugs through the FDA process. Even billion dollar companies sell stock. They all do it. So please, do the world a favor, disappear.