The Bairns have been in discussions with prominent fans David White and Kenny Jamieson whose financial backgrounds have helped formulate a fan ownership model which was presented to the club's shareholders at the AGM last night.
In it, Falkirk's major shareholders group, which currently owns 62% of the SPFL Championship side, will see their stake in the club decreased by half.
The new proposal would see the quarter of the Bairns owned as a block by the support, which would vote as one quarter of the club in the decision-making at the club.
In total 2.4million shares would be available for purchase raising around Â£800,000 for the football club.
The options for purchase would be 'A' shares purchased by individuals for a pre-determined lump sum, and 'B' shares available for small incremental payments into a sharesave scheme and making up the 25% block.
Individual shareholders holding the 'A' shares would make up 75% of the club, but each would be restricted to a 6.25% holding, expected to be around Â£100,000.
The outline proposal was presented by Mr Jamieson at last night's AGM and an open forum will be arranged next month to ensure all fans can view the proposal. However the plans received the overwhelming backing of the room at The Falkirk Stadium during last night's annual meeting.
If support and pledges are forthcoming, the changes could be in place as quickly as this summer, injecting a significant sum into the club.
The meeting also heard from Mrs Lang, the chairman, finance director Andy Thomson, chief executive Craig Campbell and first team manager Ray McKinnon.