Drone Services USA Inc. (DSUS)

[pitboss22]

Yes, conversion at today's price would add more than 300 MILLION shares to the float, more than doubling the latest reported O/S and require an large increase in the A/S.

That's not even taking into account that the mere announcement of such a plan would likely tank the price as smart investors would anticipate the outcome.

I believe the rights stated in the Company Bylaws state that the Series C expire in February.

Of course according to the published rights of the Series C shares, the redemption holders have the CHOICE of 20 cents cash or 20 cents worth of common at the time of redemption. I can't imagine anyone choosing shares that would immediately lose value from the massive dilution.

The problem with the cash option is that the company CAN'T pay the $4 MILLION! They simply don't have the cash.

Judging from the language of their later PRs, I'd say they are considering dissolving their "business relationship" with the public company entirely. If they can simply walk away, that may be their best choice.