Viscount Systems (VSYS)

[finrafriend]

Mr. straight and narrow strikes again as per the filing on Friday.

"The Company issued to Dendera Capital Fund LP (whose principal is Geoffrey Arens, a director of the Company) 2,925,000 shares of common stock of the Company on January 20, 2015. The Company intended to issue to Dendera Capital Fund LP 200 shares of Series A Convertible Redeemable Preferred Stock of the Company (the "A Shares"). The Company has rectified this error by issuing to Dendera Capital Fund LP 200 A Shares of the Company."

How do you issue 2.9M shares of common stock when you intended to issue 200 shares of Class A? This is absurd or Raefield screwed up.. again. Obviously after the fact Mr. Arens decided he'll make more $$ getting Class A dividends or something like that.

Well if it is uncomfortable being honest with your shareholders I guess it's better thinking shareholders are stupid.