XML 42 R22.htm IDEA: XBRL DOCUMENT v3.20.2
Subsequent Events
9 Months Ended
Sep. 30, 2020
Subsequent Events [Abstract]  
Subsequent Events Subsequent EventsOn October 7, 2020, we held a Special Meeting of Stockholders for the purpose of approving and adopting the ratification and validation of the amendment to our articles of incorporation to increase the number of authorized shares of common stock that we may issue from 60,000,000 to 100,000,000. As of the record date of the Special Meeting of Stockholders, 97,544,947 shares of our common stock were outstanding. For purposes of the approving and adopting the ratification and validation of the amendment, pursuant to the Nevada Revised Statutes we disregarded all shares of our common stock issued or purportedly issued pursuant to the corporate act being ratified, that is we disregarded shares issued above 60,000,000 (the “Disregarded Shares”) when determining the total number of outstanding shares of our common stock entitled to vote and the total number of shares that need to be voted in favor of the proposal. To be approved, the proposal required “FOR” votes from the holders of a majority of the shares of our common stock outstanding as of the record date without including the Disregarded Shares. There were an aggregate of 73,613,391.9 shares of our common stock and at least 36,068,444.9 non-Disregarded Shares, or at least 60.1%, of the shares of our common stock entitled to vote at the Special Meeting. The final vote was 65,068,196 shares voting “FOR” the proposal and included at least 30,736,784 non-Disregarded Shares or at least 51.2% of our total outstanding non-Disregarded Shares and the proposal was approved.