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Okay, are you saying that Xmet Preferred shares can vote?
OR, are you saying that Xmet Preferred shares can convert to 100 shares of common stock and, THEN, vote?
Can preferred shares have voting rights?
The main difference between preferred and common stock is that preferred stock gives no voting rights to shareholders while common stock does. Preferred shareholders have priority over a company's income, meaning they are paid dividends before common shareholders.
Understanding Preferred vs. Common Stock - Investopedia
www.investopedia.com › Investing › Stocks
Search for: Can preferred shares have voting rights?
Preferred shares DON'T VOTE. So they CAN'T have Super voting rights.
They can be converted to common shares that do.
So if Tian had NO COMMON SHARES, he could not be in control. Because you are saying he only has non-voting shares.
Preferred shares are given a position before the Common Shares in any bankruptcy. To get that treatment, they do not vote. No vote. Not now. Not yesterday. Not tomorrow. Only Common Shares can vote.
That is why the contract states "Fully Diluted." The hypothetical moment when there are only commons shares because the Preferred shares have been hypothetically converted--- and why the contract then and only then mentions voting rights.
Super voting rights? Do they wear a cape with a big "S"
They are listed as common shares. Which have one vote as all common Shares. (Yes, there are Series A, B, etc. But they don't exist in any of Xmet's paper work.)
Custodian Ventures, LLC to Wei Tian (the “Purchaser”). As a result, the Purchaser became an approximately 93% holder of the voting rights of the issued and outstanding share capital of the Company on a fully-diluted basis of the Company, and became the controlling shareholder
authorized capital of the Company consists, immediately prior to the Closing, of: (i) 8,900,000,000 shares of common stock, $0.001 par value per share, 8,272,627,462 shares of which are issued and outstanding immediately prior to the Closing; and (ii) 100000,000 shares of preferred stock,
Un-Diluted: 8.9B B
Fully Diluted 18.98 B
Preferred Shares are converted in fully diluted count
But not in Un-Diluted count,
Tian owns 93% of fully diluted shares which is 17.6 B
But 10 B of those are in Preferred Shares so Tian owns 7.6 B of the float.
8.9 - 7.6 = 1.3 B which is not owned by Tian.
The 93% is listed as approximate so fudge it up to 1.5 Billion.
Again, the math:
10B in Preferred that are owned by Tian
FULLY DILUTED. Which means the theoretical total if the preferred shares are converted to common shares (Voting rights)
Fully diluted means 10B + 8.9B = 18.9
18.9 x .93 = 17.5 of the fully diluted total.
But 10 Billion is tied up in Preferred shares, so he has
7.5 of the total float. Leaving 1.4 Billion
Since the document says the 93% is approximate
Fudge it 1.3 to 1.5 Billion.
The same document that states that Wei Tian owns 93% of those shares so 1.4 B shares are in the float not owned by management.
Thanks for the clarification. LOL.
Xmet GO GO GO
And out to dinner, I GO GO GO
Fake signals are not trying to fool people?
Maybe back in the 70's but nobody falls for fake MM signals in 2021 LMAO Some retail trader trying to con some newbie into thinking there is really such thing as MM signals is all that 911 trade amounts to.
I just read a voice of experience say that MM's try to fool noobies.
Word to the wise!
Xmet is getting serios. GO GO GO
No Warrants. 1.3- 1.5B in float not owned by the company.
LOL. So bad a pun that it is good.
Damn
No Warrants
Section 2.2 Title to the Shares. Seller owns of record and beneficially the Shares of the Company, free and clear of all liens, encumbrances, pledges, claims, options, charges and assessments of any nature whatsoever, with full right and lawful authority to transfer the Shares to Buyer. No person has any preemptive rights or rights of first refusal with respect to any of the Shares. There exists no voting agreement, voting trust, or outstanding proxy with respect to any of the Shares. There are no outstanding rights, options, warrants, calls, commitments, or any other agreements of any character, whether oral or written, with respect to the Shares.
Good. Thanks.
If 1 to 100 in conversion for the Preferred to Common
And if Tian Wei still has 93%
Then he has 93% of the fully diluted stock
(10,000,000,000 + 8900000000) x .93 = around 17.8B.
But 10 B are in Preferred so Tian Wei has around 7.6B of the Free float locked up.
8.9-7.6= 1.3B not in ownership hands
I fudged the figures somewhat as the original .93 owned by the new owner is listed as approximate.
People have every right to sell and buy as they please. I would have sold some to buy a company called IPIX but had a large bum investment that I sold instead. (Instead of stop "digging," stop hoping when a stock digs a hole.)
I have said I would stay until the company is announced. And I mean it. But it ain't written on stone, either. It can't be because other things can come up. Right now, I want to know where this is headed.
Keep climbing Xmet!
Knew I forgot something
I just called the transfer agent. The response "why are you bothering me about what an SEC Document says."/S
He could easily have purchased stock before the transaction the open market there is nothing in the contract about that one way or the other the other. Stupid if he didn't. Fully diluted means just that as if the preferred shares have been converted. Preferred shares don't votes. Converted shares do. It's as if they had been converted. They've had been converted already. Conversion had been done as if they were converted. Get it.
He owns 93% of fully diluted stock which includes preferred as if they had been converted. It includes 8.9 billion. It includes the 10 billion and he owns 93% total as stated in the act by the SEC document.
Section 2.6 Authorized Shares. The authorized capital of the Company consists, immediately prior to the Closing, of: (i) 8,900,000,000 shares of common stock, $0.001 par value per share, 8,272,627,462 shares of which are issued and outstanding immediately prior to the Closing; and (ii) 100,000,000 shares of preferred stock, par value $0.0001, 100,000,000 of which are designated Series A Convertible Preferred Stock and 100,000,000 of which are issued and outstanding immediately prior to the Closing. All of the outstanding shares of Common Stock and Preferred Stock have been duly authorized, are fully paid and nonassessable and were issued in compliance with all applicable federal and state securities laws.
FROM THE SEC DOC
FULLY DILUTED
Wei Tian (the “Purchaser”). As a result, the Purchaser became an approximately 93% holder of the voting rights of the issued and outstanding share capital of the Company on a fully-diluted basis of the Company, and became the controlling shareholder. The consideration paid for the Shares was $220,000. The source of the cash consideration for the Shares was personal funds of the Purchaser. In connection with the transaction, David Lazar released the Company from all debts owed to him.
Fully Diluted Shares
“Fully diluted” shares are the total common shares of a company counting not only shares that are currently issued or outstanding but also shares that could be claimed through the conversion of convertible preferred stock or through the exercise of outstanding options and warrants.
The calculation of “fully diluted” shares for a company is generally made so that an individual stock owner can determine their “fully diluted” ownership percentage, which is the number of common shares owned by that owner divided by the total fully diluted shares. This calculation is more meaningful than simply dividing an
So Lazar diluted Tian's share after he sold the company?
Neat trick if you don't mind prison
He owns 93% of the outstanding stock fully diluted.
(10,000,000,000 + 8900000000) x .93 =17 577 000 000)
But 10B are in Preferred so the remainder he has of the float is 7.755B
8.9-7.6B= 1.3B
Since the document says .93 is approximate, do a wide margin of error
1.5 Billion.
SEC--- read it.
Wei Tian (the “Purchaser”). As a result, the Purchaser became an approximately 93% holder of the voting rights of the issued and outstanding share capital of the Company on a fully-diluted basis of the Company, and became the controlling shareholder. The consideration paid for the Shares was $220,000. The source of the cash consideration for the Shares was personal funds of the Purchaser. In connection with the transaction, David Lazar released the Company from all debts owed to him.
SEC filings say there is 1.3-1.4B float (outside 1.5) outside those controlled by Tian
Couple "if"s in there
1 to 100
and does he have 93%?
But if the ifs are solid
then the Math is pretty clear.
If 1 to 100 in conversion for the Preferred to Common
And if he still has 93%
Then he has 93% of the fully diluted stock
(10,000,000,000 + 8900000000) x .93 = around 17.8B.
But 10B are in Preferred so Tien has around 7.6B of the Free float locked up.
8.9-7.6= 1.3
I fudged the figures somewhat as the original .93 owned by the new owner is listed as approximate.
The free float should be between 1.3B and 1.4B
My calculations and the conversion on the Pre to Common is 1 to 100
Other is like "CC:"?
Makes sense. Thanks
Who is "Other Custodian Ventures, LLC" Or am I reading that wrong?
(Check NY and NV, and the name doesn't show, so I might be reading it wrong).
Will they deliver. Will Xmet deliver. My guess, Yes.
Xmet still looking good.
(This Board seems to lose "leaders" fairly often. I guess that means really do "do your own DD.)
That would change things. Not sure if in a good direction.
I suspect retail Investors on Reddit will likely get burned. But in a Free Country, getting burned is how people learn.
I say they will get burned because I suspect very clever people will figure out how to use it, and the underlying stock(s) will not support its(their) enthusiasm. It reminds me too much of the book Popular Delusions and the Madness of the Crowd.
Xmet will work if Xmet is R/M into a good company. Then it will have supportable enthusiasm which is what I am waiting for.
Tell that to the Mortgage Bankers
ST = Stocktwits?
If so pass on my thanks. Deep Green Yep, Yep, Yep
With that type of profile maybe can get Reddit to join in.
Thanks and something else.
Time just Jets by.
Well if this does have a short, timing could not be better with GameStop getting Congress interested in the subject.