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authorized capital stock |
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Pursuant to the securities purchase agreement entered into between the Company and the investor, the Company shall use its reasonable best efforts, within seventy-five days of the agreement date, to effectuate an increase of its authorized capital stock. SendTec also announced that on November 10, 2006, it received the requisite stockholder vote approving an increase in the number of shares of the Company's authorized capital stock and will file an amendment to its certificate of incorporation to authorize such increase. The Company currently has authorized capital stock of 525,000,000 shares, including 500,000,000 shares of common stock and 25,000,000 shares of preferred stock. |
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