Elong Power Seeks Shareholder Nod for 1,200x Authorized Share Hike and Automatic Future Reverse Splits

summarizeSummary

Elong Power seeks shareholder approval for a 1,200x increase in authorized share capital, a reorganization creating 500 billion shares, and pre-authorized future reverse splits to maintain Nasdaq listing.

check_boxKey Events · Corporate Governance and Compliance · ELPW

• Authorized Share Capital Increase

  Proposal Four seeks to increase authorized share capital from US$240,000,000 to US$288,000,000,000, a 1,200x increase, creating 500 billion authorized shares.

• Share Capital Reduction and Reorganization

  Proposal Five would reduce par value to US$0.0000001 and subdivide each share into 5,760,000 shares, resulting in 500 billion authorized shares with minimal par value.

• Pre-Authorized Future Reverse Splits

  Proposal Seven grants the board authority to implement reverse splits of 10:1, 20:1, 50:1, or 80:1 automatically if the stock price falls below $1.00 for specified periods, without further shareholder approval.

• Registrar Rejection Risk

  The filing discloses that the Cayman Islands Registrar of Companies may reject the filings for the August 2026 Share Consolidation, creating uncertainty about the validity of the reverse split already completed on August 10, 2026.

auto_awesomeAnalysis · ELPW · Manufacturing

Shareholders are being asked to approve a dramatic expansion of authorized share capital from $240 million to $288 billion, followed by a reorganization that would create 500 billion authorized shares with a par value of $0.0000001. The board also wants pre-approval to execute future reverse splits (10:1 to 80:1) automatically if the stock price falls below $1.00, without further shareholder votes. This comes just days after a 45-for-1 reverse split and amid a series of deeply dilutive offerings. The filing also reveals that the Cayman Islands registrar may reject the already-completed reverse split, creating uncertainty about the company's capital structure.