Capstone shareholders approve 5x increase in authorized common shares; LED business mature, smart mirror unsuccessful

CAPSTONE COMPANIES, INC.

Shareholders approved increase in authorized common shares from 60M to 300M; not yet effective.
Directors re-elected: Stewart Wallach, George Wolf, Jeffrey Postal, Jeffrey Guzy; auditor D. Brooks & Associates ratified.
LED lighting product line matured with no revenue; Connected Surfaces Smart Mirror not succeeded; exploring third-party funding.
Company relies on director/affiliate funding for overhead; no assurance of consummating any corporate transaction.
Authorized share increase could allow board to issue shares without further vote, diluting current holders to 16.27% of authorized.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

CAPSTONE COMPANIES, INC.: Amendment to Article 1 of the Articles of Incorporation to increase authorized shares of Common Stock from 60 million to 300 million.

Change: charter amendment

Exact text from the filing

the Company received sufficient written consents from holders of shares of Common Stock to approve an amendment to Article 1 of the Articles. The amendment to the Articles restates Article 1 to read as stated below and in order to increase the authorized shares of Common Stock to 300 million from 60 million.

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CAPSTONE COMPANIES, INC. filing history →

Source: SEC EDGAR

accession 0001903596-23-000432

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