Those class of shares mentioned are not us. When a company issues stock, it classifies its equity in different classes sometimes. They can create "Classified shares", or even just split it up into A shares and B shares like Berkshire Hathaway does. Giving more voting rights to A shares than B. Maybe 10:1 voting right advantage.
Most companies investors (us) own what's called "Common shares".
The "Delmar" shares that were just taken into court Thursday and extinguished are "Preferred shares". Preferred shareholders, even though it sounds much more important to own, do NOT get any voting rights in the company like common shareholders do.
There are 4 types of Preferred stock: Cumulative, Non-Cumulative, Participating and Convertible. Depending on how this company was set up at the beginning, one of these Preferred stock subclasses is the one mentioned. It's also possible that they are all grouped under that Classification. Not sure which it is because it's hard to find that information. It doesn't matter to us really. We are Common or Regular shareholders. Nothing else. All the class A/B or class 2, class 4 shares are NOT us. The company is simply trying to "trim the excess fat" off right now, by getting rid of ALL of the specialized interest holders and preferred shareholders. Leaving nothing but it's common shareholders (us) as its main investors. If they were going to extinguish all the common shares, it would've happened long ago. If they were going private, they wouldn't be going to court and spending $25,000 on an attorney to extinguish preferred shares and expunge debts. In my opinion, we have made it passed the rough part. Everything has been granted or approved. There's one more court date at the end of May for Mrs. Delmar, who was probably given another specialized classification of preferred shares. Hers will be extinguished as well. Now it's just a waiting game to see how long it takes for $ARIO to request the Q be removed from FINRA. Once that happens and we get a PR with the Q gone and of future business intentions....this stock will move. It might be this week. It might be months.
Hope this helps.
