Omni Health Inc (OMHE)

[lesgetrich]

More BS!...

OMHE Converted Common Shares To Preferred shares for the insiders; which benefits insiders like Andrey MUCH MUCH More than common shareholders. It's not like they just outright reduced outstanding shares by retiring them. It was a way to pay Andrey.

Finance 101, converting common shares to convertible preferreds at market value is value neutral to the shareholder. The only thing that LX Retail Group (not Andrey) gained from the conversion was additional voting right, of which they already had a majority. According to their 8-K it reduces their OS (outstanding shares) and thus benefits the rest of us shareholders as much as LX Retail...

Omni 8-K Regarding Preferred Conversion

On March 27, 2017, Omni Health, Inc. (the “Company”) offered to it majority shareholder, LX Retail Group, Inc. to exchange all but 8,109,551 shares of the 565,000,000 currently held by LX Retail Group, Inc. for 5,600,000 shares of the Series A Preferred as described in Item 5.3 below. As a result, the current issued and outstanding number of shares of common capital stock of the Company is 418,938,292.

Preferred shares are not counted as part of the outstanding shares.

Moreover, any additional compensation that Andrey receives would have to be reported in financials. We would know if that happened.

Debunked Again