Tuesday, March 08, 2016 1:40:30 PM
Also on the conversion of the Series C Preferred to restricted common shares. This may be a sort of "poison pill" against any hostile takeover by an agressive buyer or company. It sets an inflated price on those shares which would nullify any benefit of a takeover as they would have first right to liquidation at a much higher rate than the current pps or possibly even the entire value of the company. So they're "restricted" from the standpoint that Tom would dump them if anyone tried a takeover by accumulating too much of the stock. It was a tactic that ultimately protected shareholders from corporate raiders in the 1980's.
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