phat my assumptions are very simple and based on facts.
Fact #1
FLOYD SMITH OWNS 51% OF ALL PREFERRED SHARES, NO MATTER HOW MANY SHARES AUTHORIZED OR ISSUED OR OS. THEREFORE HE OWNS THIS COMPANY OUTRIGHT WITH NO CHECKS AND BALANCES, NO MEANINGFUL SHARED GOVERNANCE,
Can you imagine a publicly traded company where CEO appoints BOD not the other way around? Yes I can, it is Petron.
Fact #2
As of today, he diluted 2 billion shares and counting
Fact #3
DILUTION ALLOWED Floyd Smith TO keep Petron afloat and allowed FS playing CEO, while share price lost 99% and hitting another 52 week low.
THEREFORE IT IS A VERY SIMPLE LOGIC-WHO IS THE PRIMARY BENEFICIARY HERE. imho
