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The controlling shareholder makes that decision just like with the A/S reduction no vote necessary in this case, if someone wants to convert they can at the new conversion rate, being that the ceo also owns this class of stock he even took the hit himself, just another step they’ve taken to look out for the common shareholder
If they had they’d be in the O/S already
Well said and 100% accurate
Feels like a big week coming here next week after a nice cool off today
Issued shares are part of the outstanding
I see many bids on L2 lol must be looking at the wrong stock
If someone was willing to give them the money on friendly terms no doubt in my mind they could make it happen, gotta love that they are considering the best interest of their shareholders in this process could’ve easily took a different route and just crushed everyone with the Reg A but with that now closed it’s all up from here
Yes IMPOSSIBLE!!!
Dilution is now impossible here for several months with the Reg A closing, any other convertible debt is minimum 2 year hold due to shell status
You must not have just read the news
Those fine folks building the PCB house are allowing us to showcase the home for a year, perhaps that’s why they got some shares for their troubles?
It’s official Saean is here!!!
Is it Christmas?
Nice little bear raid, cover shorty
Cancellation, SEC Reporting, Uplisting to QB oh my!!!
It can be done cheaper but that’s another issue, wish you all luck enjoy the weekend
I’m sure the current CEO is well aware of the difficulties of clearing stock in this price range, are you suggesting he convert his 5M preferred A and take his 500M commons and try to sell them in 90 days after he’s no longer an affiliate? I have no doubt there’s a price on this shell and control comes with the AA’s but that price just went up substantially you don’t put yourself in a forceful position and expect people to play nice. He could’ve got a cleaner shell than this for $50k but he obviously doesn’t know the right people
I suppose you haven’t checked Wyoming, I also suppose you didn’t read Lil Jakey’s tweet he has no idea what he’s doing, but go ahead and root him on to over 700M to try out his plan then he can only sell 7M a quarter until he’s out, nice win for the flippers here
I hope the kid pulls it off but I just think he doesn’t know what he’s getting himself into
Was end of 2017 could be higher now
Just 1.4B Lil Jakey has a ways to go before he tries then he’ll learn what preferred shares are
Definitely an algo they’re working hard to keep it channeled here
That sounds accurate, those are the shares to keep an eye on hope someone didn’t jump the gun on those ; )
Yeah the preferred aren’t worth much anyway besides for control purposes just like most of these otc tickers though some companies are using them differently nowadays, definitely can’t rule out the possibility that something is going on in the background so we’ll all just see how it plays out, on a positive note the largest common shareholder can only sell 1% a quarter now
You may be able to come up with something a little more fresh if you know where to look, might even have a more current common o/s etc
No concerns just facts, enjoy!
Perhaps he has a plan to purchase the preferred, hard to say but at this point if he doesn’t have an agreement in place he lost leverage and cornered himself, either way I’m intrigued will be monitoring
Current CEO owns preferred shares which give him total control, the kid can buy every share out there and he won’t have enough voting power, we like to call these “control blocks” every company has them
Pretty sure he’s now an affiliate meaning he can only sell 1% a quarter, too bad he can’t get control like people were hoping so he may just be a nice stuck bag holder now
Smaller float, not being diluted all day, the chart!!!
Judging by today’s trading I’d say the float is tiny
O/S around 160M if my math is correct
That is probably the best solution
Lol good luck with that
As long as people let him he’ll keep doing it unfortunately
Tin foil hats out in force
Awesome stuff thank you for sharing