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Authorized Shares |
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Authorized shares Authorized Shares The maximum number of shares a company is allowed to issue. Generally, the company's charter specifies the number of authorized shares, but shareholders can increase or decrease it according to procedures listed in the charter. Typically, the number of authorized shares is larger than the required amount in order to give a company the greatest amount of flexibility. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| Shareholders of record as of February 23, 2007, will be entitled to vote in matters at issue before the meeting, which are expected to include election of directors, amendment of the Articles of Incorporation to increase the number of authorized shares to address an over issuance, and any other matters that may properly come before the meeting. In addition to the name change, the Schedule 14c also includes the Company's intention to increase the Company's authorized shares of capital stock from 200 million to 500 million, consisting of 400 million authorized shares of common stock and 100 authorized shares of preferred stock. NEW YORK -- IBAC Corporation (Pinksheets:IBCX) announced today that its Board of Directors has approved an immediate reduction of its Authorized shares from 500 Million to 350 Million. |
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