Question

I'MAStart-UP Corp. issued and sold 2,500,000 common voting shares during its first public stock sale. What is the minimum number of shares needed to be able to elect a new director to the Board

Answer 1

Answer:

1.25 million

Explanation:

For I'MAStart-UP Corp. To be able to elect a new director, there needs to be a minimum of 50% of the companie's voting shares.

That is 0.5* 2,500,000= 1,250,000 shares.

Assuming that there are no other voting shares issued there must be a vote for the new candidate of at least 1,250,000 shares to appoint a new director to the board.