When people claim $Camber Energy (CEI.US)$ doesn't have a su...
When people claim $Camber Energy (CEI.US)$ doesn't have a sufficient number of authorized shares to support future acquisitions paid in shares, what is the justification? Back in December when they had 250 million shares outstanding, the shareholders approved an additional 750 million to support the VKIN merger and the preferred conversions. We know the the VKIN merger will require approximately 50 million shares and we know 70% of the preferred conversions have already taken place and that in the process the issued shares increased by 164 million to 414 million. The way I do the math, there is more than 600 million shares left outstanding and the exposure to future conversions is less than 80 million (if it took 164 million shares to convert 70%, wouldn't 83 million = 35%). Bottom line, shouldn't there be more than 500 million authorized shares available for acquisitions? By my estimation, there is a lot of ammunition available for offense.
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