Tuesday, August 22, 2017 3:11:04 PM
1,130,000,000 OS
- 172,000,000 shares returned by mCig
+ 17,000,000 shares issued to mCig
--------------------------------------
975,000,000 current OS
- 575,000,000 Restricted shares owned by LX Retail
- 75,000,000 Restricted shares owned by mCig
-----------------------------------------------
325,000,000 free trading shares (float)
On April 3, the company announced a restructuring of it's shares...
April 3, 2016 8-K
This reduces the common shares to 418,938,292 and virtually guarantees that LX retail will continue to exercise voting control...
418,938,292 common shares = 418,938,292 votes
5,600,000 Series A Preferred Shares = 5,600,000,000 votes
Also on April 3, 2017, Omni issued a PR which stated...
Omni Health, Inc. Converts 62% (600 Million Common Shares) of Company Common Stock into Preferred Stock in a Capitalization Restructuring
The series B Preferreds can't be converted for 24 months after issue. There is a discrepancy here as the 8-K only authorized 1,500,000 Series B Preferreds. I think this is just a typo as the conversion ratio would suggest that the true conversion would be for 500,000 Series B Preferreds not 5,000,000. Hopefully this will be clarified on the 10-K.
500,000 Series B Preferreds = 50,000,000 votes
418,938,292 common shares
- 50,000,000 common shares converted to restricted Preferred B
---------------------------------------------------------------
368,000,000 common shares OS after restructuring
To do an acquisition, Omni would merely issue additional Series B shares or Blank Check Series C Preferreds (Conversion ratio and terms to be defined later by the board). In either case, there would be no immediate dilution as preferred shares are not counted in the OS when determining Earnings Per Share (EPS).
There is absolutely no need for the company to do a Reverse Split (RS)!
...moreover...
Omni is undervalued and should be trading at $.05 to $.13 per share
Les
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