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DewDiligence

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Re: Whalatane post# 212118

Tuesday, 06/27/2017 10:20:04 AM

Tuesday, June 27, 2017 10:20:04 AM

Post# of 252302
PRTO—The convertible preferred stock is a workaround to allow equity to be sold to existing major shareholders while precluding any other shareholders from attaining a 10% stake in the common shares; from the footnotes of one of the Form-4 filing:

https://www.sec.gov/Archives/edgar/data/1359931/000090571817000624/xslF345X03/haines_fm4jun222017.xml

The Series A Stock contains a provision prohibiting conversion to the extent that upon conversion the holder, together with its affiliates and any "group" members, would beneficially own in excess of 9.985% of the number of shares of Common Stock then outstanding.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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