leopard - that's what I was thinking...

I got the anual report and the proxy material. I am having difficulty understanding the difference between authorized shares and issued/outstanding shares. They only want to affect the reverse split on the issued/outstanding shares and not the authorized shares. Don't the issued/outstanding shares come from the authorized shares?

The way I see this is if there are 600,000,000 authorized shares, and they are only affecting issued and outstanding shares of 572,000,000, then the 28,000,000 held in the company treasury will not be affected?

Help? Do we want to vote for this? Or do we want to run the risk of being delisted? The outcome either way is not good so in my opinion we are being asked to choose our poison...