At December 31, 20X0, Crowe Company Has 80,000 Common Shares

Multiple Choice

At December 31, 20X0, Crowe Company has 80,000 common shares outstanding while Dylan Inc. has 40,000 common shares outstanding. Crowe wishes to gain control over Dylan and will enter into a reverse takeover of Dylan to gain Dylan's listing on the stock exchange. In order to facilitate the reverse takeover, which of the following would have to occur?

A) Dylan would have to issue more than 40,000 shares.
B) Dylan would have to issue less than 40,000 shares.
C) Crowe would have to issue less than 80,000 shares.
D) Crowe would have to issue more than 80,000 shares.