That's not what the s-1/a says. It says that on November 29, 2014 Stephen Wall paid $47.235.75 for 237 shares of Series 2020 Convertible Redeemable Cumulative Preferred stock and Richard Carlton Wall paid $25k for 125 shares (par value). Then on December 15, 2014, Alison Helm paid $375,000 for 1,500 shares of Series 2020 Convertible Redeemable Cumulative Preferred stock, according to the s-1/a. It doesn't show any more of those preferred shares being sold through December 31, 2014. Nobody bought 500 shares, like you say you did. Their December 15th press release about a flight simulator loan with Avengers Flight Group has a bit in it that says "OCFN directed by its VP of Capital Markets, Dave Demarest, completed a private sale of 1,500 restricted shares of OCFN 18.25% Series 2020 Convertible Preferred Shares at $200.00 per share yielding $300,000 to the company." I don't know why the s-1/a says it was a $375,000 deal. I figured maybe the person who sold it tacked that on to make it a big 25% commission or something. I don't know.
All I know is that OCFN is notorious for not paying their debts and I really can't believe that they can pay the close to $5,700 owed each month on these 1,862 preferred shares that are supposed to pay 18.25%. If they've sold more of those shares (like 500 to you and more to I don't know who) it's even more likely that they won't be able to pay. They're basically borrowing money at 18.25% interest, and this company never makes any money which makes it hard to pay off debts. A lot of this dilution was done to pay off debts and their subsidiary Omega Capital Street is being sued right now for bad debts, and of course Omega is sued a lot for that. All those shares issued to IBC Funds LLC in the s-1/a were part of a settlement agreement for bad debts I believe, and I don't know if they're done issuing shares for that yet. I would not be surprised at all if someday they come to those with these 2020 preferred shares and offer everybody a whole bunch of common shares in exchange for the preferred. My guess is they'd do that right before the massive reverse split you and I both know is coming. That's their style.
