Value of Preferred Shares ?
Looking at IDNG,
What are the voting rights of the new preferred shares ?? I don't see it listed. Since common are par $.001, and preferred are par $1000, does that suggest each preferred will have voting power of 1,000,000 common ? (1000 divided by .001).
To retain control, do insiders need 51% of A/S, or 51% of A/S and/or preferred combined ?
They just issued this.
"...
1. The increase of our authorized shares of common stock from 375,000,000 shares of common stock to 450,000,000 shares of common stock, par value $0.001 per share.
2. The authorization of up to 5,000 shares of preferred stock with a par value of $1,000.00 per share, which may be issued from time to time in one or more series by our Board of Directors with such powers, designations, preferences, privileges and other terms as may be determined by our Board of Directors...."
