$Money Bags$
1 week ago
Just read the filings, everything is there over the last few years. This is just an example. Plus, with the subsidiaries gone, shouldn't the preferred shares associated go with them.
These are just 2 of dozens. Do you think it is just coincidence?? Mcol? Please tell us.
7-Jan-19 Cancelled/
Exchange (3,500,000) Common n/a n/a Kurk and Betty
Moss
Exchange for
Preferred
Series C
Unrestricted Exemption
7-Jan-19 New
Issue/Exchange 350,000 Preferred
Series C n/a n/a Kurk and Betty
Moss
Exchange from
Common to
Preferred
Series C
Unrestricted Exemption
7-Jan-19 Cancelled/
exchange (218,982) Common n/a n/a Thomas L.
Baldassare
Exchange for
Preferred
Series C
Unrestricted Exemption
7-Jan-19 New Issue/
Exchange 21,898 Preferred
Series C n/a n/a Thomas L.
Baldassare
Exchange from
Common to
Preferred
Series C
Unrestric
Adam917
1 week ago
Correct if I am wrong,
I thought you can create preferred shares from thin air and it is just a way to either get some institutional funding or a way to own the company assets for founders. And "convertibility" is a just an added feature. And when they exercise that feature total number common shares should go up.
What you are saying is, when they create these preferred shares, they are converting existing common shares to preferred means, total number of common shares should go down. I don't think they can do it, since the common shares should be owned by other parties and they have to buy back first to convert.
$Money Bags$
1 week ago
Preferred A: 20.000,000
Preferred B: 10,089,586
Preferred C: 18,178,922
Preferred A
50:1 voting
15,000,000
Preferred B
20:1 conversion
10,089,586
=201,791,720
Preferred C
10:1 conversion
18,178,922
=181,788,220
Here's you a quick lesson about the shares he converted to preferred. Usually when they do that it is to get the common shares off the float in pink sheet world. Why would he go through all the effort and expense to convert them to preferred, just to leave them in float? I find it odd around the times those shares converted the stock got beat up. Technically he's supposed to keep the AS high enough to convert, but he's been doing shady shit for years, so what's one more thing.