Important info. 8K today shows split on dividend common shares.
I am not a basher, and there is a silver lining, but...
The 8K addresses the convertible preferred C shares and the reverse split.
For those that want to verify, sorry I don't know how to paste links, but go to www.sec.gov, filings, company filings search, company name- search.
Open up the 8K today and open the Exhibit 4.1 and first page number 2, Anti-Dilution Adjustments,(a)adjustments for dividends, stock splits and combinations. It is clear to me we get 100 shares for each preferred. I did not buy 55 million shares for the divvy, I bought it for the play, the divvy was a 2% extra. Sure I had my fingers crossed that we keep the 100,000 shares, but when too good to be true...
The silver lining here- we don't have 100 million plus shares of dilution next February hanging over our common we hold now. We now have 7.5 million O/S share and yes there will be some more dilution, hopefully at a much higher price so not too much dilution required and that the money goes into equipment to increase our peta hash capacity.
With good news and outlook, we have great upside from here, IMO.
$MELY
