My friend....I have way too much dough invested here to not have read through every single word of every filing by this awakening beast! It takes a while but there is some great insight as to where this company has been, and where it is going....suffice to say, I am a happy shareholder with this PR this morning.
With the S/S...I have no problem with it. Understanding that D. Michery has 135+ million common shares along with 7 million preferred at a conversion rate of 100:1= 835+ million converted puts him with a current stake of approximately 17% of the company (diluted/converted) without the possibility of personal dilution (preferred have voting of 1000:1 so he has approximately 60% voting power which I do not believe he would want to lose at this point...hence my opinion of very minimal dilution, if any, going forward from this point....and part of the reason why I believe he is working so hard to reduce these toxic notes). Also, they are SEC reporting so he would have to file the appropriate documents before any conversions and dumping into the market...I think he is here for the long run/big gains.... after previous failed goes with the music biz, he probably sees this as his chance to make the mark....as most MJ investors are looking at it.
I'm rambling....hope that answered your questions....cheers, Nate
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