Yes. You can issue additional additional shares to the existing shareholder, so long as the corporation's articles of incorporation and corporate bylaws permit the additional shares to be issued. The total of new shares issued, together with existing shares outstanding, should not exceed the authorized capital allowed per the articles of incorporation. If the number of shares will exceed the stated amount, you will need to amend your articles of incorporation. The corporate bylaws govern procedures necessary to issue additional shares. Generally, the board of directors must approve the issuance and sale of all shares of the corporation, regardless of share class.