Saturday, July 26, 2014 3:12:45 PM
As for the conversion, the new par value of the common stock is .001. Reread the document you just linked in your previous post. You are basing your conversion rate on .00001. But the new par value of the common is .001. Note the example given below...."assuming 1000 shares of Series E Preferred are converted to common, and the common par value is $0.00001 then each 1000 shares of Series E Preferred shall convert to 100,000,000 shares." Have you confirmed the conversion rate with the TA?
Also, someone said Kathy does not hold her series E anymore. Is this true? How would we know since filings haven't been updated? If she returned her 20 million series E that leaves about 5 million series E released. Those would convert to 5 billion shares alone at the current par value of .001. That still is a bad omen for common shareholders. If this ever gets another R/S we already know what is on the horizon...another dump.
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