Waste Energy Seeks Consent to Quadruple Authorized Shares to 1.6B, Pledges No Reverse Split Before 2028
WAST sits 35% above its 52-week low of $0.002.
Summary
Waste Energy seeks shareholder consent to increase authorized shares from 400M to 1.6B, with a board commitment to avoid a reverse split before 2028. The filing also corrects insider compensation disclosures and reveals significant share issuances to management.
Key Events · Corporate Governance and Compliance · WAST
-
Authorized Share Increase to 1.6B
The board seeks consent to increase authorized common stock from 400M to 1.6B shares, with 329.4M shares outstanding as of the September 18, 2026 record date.
-
No Reverse Split Before 2028
If the amendment is approved, the board commits not to propose, recommend, or implement a reverse stock split before January 1, 2028.
-
Insider Share Issuances Disclosed
15M restricted shares were issued to CEO Gallagher's 221 Cap LLC, 7.5M shares for his $37,500 debt conversion, 2.5M shares to EnergyFX for a $15,000 bonus, and 6M shares to McBride for $30,000 debt conversion.
-
McBride Compensation Correction
The definitive filing corrects the preliminary statement: McBride conversion was $30,000 for 6M shares, not $27,500 for 5.5M shares.
Analysis · WAST · Trade & Services
Shareholders are being asked to approve a 4x increase in authorized shares from 400M to 1.6B, with 329.4M shares currently outstanding. The company needs roughly $500K in near-term capital to service debt and complete its waste-conversion system, and the additional authorization provides flexibility for toxic debt conversions, compensation obligations, and future financings. Notably, the board has committed not to pursue a reverse stock split before January 1, 2028, which is significant given the stock trades at $0.0027. The filing also corrects the McBride compensation conversion to $30,000 for 6M shares and discloses 15M restricted shares issued to CEO Gallagher's entity, 7.5M shares for his $37,500 debt conversion, and 2.5M shares to EnergyFX for a $15,000 bonus.
How filings like this one have moved
In the 30 days to Oct 2, 2026, 29.9% of the 1656 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, WAST was trading at $0.00 on OTC in the Trade & Services sector, with a market capitalization of approximately $519.3K. The 52-week trading range was $0.00 to $0.07. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.