Demand Brands Inc. (DMAN)

[JonnyBGood]

It all depends upon what the conversion ratio of those 20 million shares of Series C preferred are. Is it one for one? Is it 100 common shares for each preferred? Usually that kind of information is in the stockholders report but all it indicates is the conversion to common shares at $0.20 per share. It is interesting that in the previous 10-Q, those same Series C Preferred were stated to have a conversion price of $5.00 per common share.
Not enough information at this point. But the 10-K Quarterly report disclosure does indicate that Tom is the owner of those preferred shares.