bASIC-Mining was originally set up that way by me last year to avoid requesting the issuance of additional shares if needed in the future. At the time it was not at all unusual to do it that way. Not one share has ever left the asset issuer account without a shareholder vote and majority approval. Not. One. Ever. Not even for a millisecond. This is easily checked by anyone at any time by simply checking the number of shares outstanding.
50%+1 in one hands can permanent vote and majority approval and drop into market new shares. Without special reglament it's deadly for minor shareholder.
For example I had 20% of pie, then awake and now have 10% of pie. And my part's price decrease in twice.
Common practice: new outstanding offering by special price to old shareholders.
Edit: Asset issuers cannot change their contracts on btct.co w/o site admin approval, which is only granted upon a successful shareholder vote.
Ok, I can't remeber and will check COGNITIVE in future.
[UPD] Split is OK!