FTE Networks Inc (fka FTNW)

[Investorr]

Here’s why the O/S will actually go up after the R/S on $FTNW

Current O/S is 46 Million:


Info on the 1-for-20 Reverse Stock Split:
“Preferred Series D and F stock will convert into twenty shares of common stock.”


As per the March 9th filling there are 1,994,200 shares of Series D Convertible Preferred Stock (“Series D Stock”), and 917,461 shares of Series F Convertible Preferred Stock (“Series F Stock”) issued and outstanding.



After the reverse split takes place:
46 Million common shares divided by 20 will equal 2,300,000 Common Shares

2,911,661 Preferred Series D & F shares convert into 20 common shares each. That will equal 58,233,220 common shares.

After the reverse split there will be 61,144,881 common shares total. (Not including Series A Convertible Preferred Stock)

So the O/S will go from 46 Million to 58 Million after the reverse split.

So once again just like every OTC stock, the common shareholders get screwed here.