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From the two classes of convertible preferred shares that convert automatically to common shares upon increasing the A/S. It is spelled out for ya in the financials.
No need for me to tell it to the SEC. TRTC has already done that themselves with their required financial reports they file with them. Maybe you should read them.
Dude, they have been steadily increasing the O/S for years with actual shares, not shares that may be converted. They have diluted the crap out of the stock that the A/S has been maxed out and will more than double the min the authorize the A/S increase as two classes of preferred shares automatically convert to common shares bringing the O/S to over 700 million shares.
Dude, you really are clueless.
Lol....you do known the difference between A/S and O/S, right?
You're joking, right?
Uhmmm...no. No they aren't.
Are they in the float yet? Then no, they aren't priced in. Economics 101, supply and demand. What do you think will happen when the float doubles overnight?
No they are not priced in as they aren't on the market yet. Supply a d demand....
Shame it loses money though....
Come on get real.
The O/S will be at over 700 million the minute they vote to raise the A/S as two classes of preferred convert instantly...
Yes, the insiders will enrich themselves with a reverse split of the commons because their shares still do not reverse split whether it is voted on now at the shareholder meeting or at a later date.
Nowhere did it recind the B shares not adjusting in the event of a reverse split. The language is still in the S3...
Newsflash..they do not need to have it voted on by common shareholders, period.
No, they canceled the vote at the shareholder meeting. That is all. They DIDN'T cancel the fact that they still can enact one nor did they cancel the fact that the insiders shares do not reverse split also. Newsflash, they do not need common shareholder approval to do it.
Regardless of when the R/S happen, the B shares held by insiders will not reverse split along with the common shares and nor will the conversion ratio be adjusted....huge windfall for insiders.
Oh I've questioned it long ago and if I recall correctly, you defended it.
It does matter what the S3 says as the B shares still do not R/S along with the commons. Isn't that what you and everyone else was bitching about to begin with? Not the vote on the R/S but the fact they do no split with the commons. It is very telling that they didn't amend that part.
Sorry, but the post is 100 accurate.
The R/S will happen, not a question of if, but when.
They need to amend the S3 to remove the language about the B shares not reversing with the common shares.....
Did they amend the language in the S3 regarding preferred shares not splitting or adjusting the conversion ratio? No, they didn't so when they decide to reverse split, the B shares won't. All that changed was it being voted on at the shareholder meeting.
No, the BoD, which has a majority of the voting power, can call a special meeting hold a vote amongst themselves and vote being there will be a quorum there as they have the majority of votes and vote. They do not need common shareholder approval at all.
Actually no, it isn't.
This hasn't been suspended yet? When was the last time they filed a financial?
I haven't been paying attention here, is there R/S on the table?
You do understand that all they did was remove the R/S vote at the upcoming shareholder meeting and did not change the fact the the B shares still do not reverse split with the common shares and that the BoD can still enact one at any time without notice, right?
Did TRTC amend the S3 regarding what happens if to the preferred B the commons reverse split? If not then they still don't reverse split along with the commons and conversion ratio remains unchanged. TRTC needs to fix this, not just remove it from being voted on at the shareholder meeting. They still can do it even without a shareholder proxy vote. The BoD can do it as they have the votes. R/S will happen.
Lol @ Patentable. They have absolutely nothing patentable. They can't even get IVXX trademarked.
They never removed the language in the S3 regarding the B shares not adjusting in a reverse the commons. Plus they don't need the common shareholders to vote anyway.
You do realize they can still do it anyway at anytime they want. All they did was remove it from being voted on at the shareholder meeting. All they have to do is call a special meeting of the BOD and vote on it themselves without the need for common shareholders to vote?
They haven't removed the language in the S3 and prior fillings regarding class B shares not R/S along with the common shares nor adjusting the conversion ratio.
No, they only canceled to proxy vote for it. Doesn't matter, they still have the power to do it at any time.
Doesn't mean no reverse split, just that common shareholders now don't get to vote on it.
TRTC is tainted just by the fact they had that R/S language in the proxy to begin with. All they did by removing it is admitting they got caught.
Check out TRTC amendment to the proxy...
It will happen anyway. They don't need common shareholders permission to begin with as the insiders have 13 billion votes compared to about 400 million votes for the common class. All they have to do is at any board meeting take a vote.
If the don't R/S, they will have to raise the A/S even higher in the near future.
True on the broader audience.
They have 4 classes of preferred shares they can use to finance...
They can raise the A/S at anytime and they can still R/S at any time with or without a proxy vote.