other_material
confidence high
sentiment negative
materiality 0.80
Bollinger shareholders approve reverse split 1:2-1:250; share count surges to 108M from 21.8M
BOLLINGER INNOVATIONS, INC.
- Proposal 1 passed with 7.7M for, 0.41M against; board to set exact ratio.
- Shares outstanding rose from 21,834,420 (Aug 22 record) to 108,229,870 as of Sep 16, a 5x increase.
- Proposal 2 (adjournment) not presented; quorum and sufficient votes for Proposal 1.
- Massive dilution in ~3 weeks suggests substantial equity issuance or conversions.
item 5.07item 8.01