Sun Pacific Holding Corp (SNPW)

[farmer6]

rmuncast,This part is vary confusing are they talking about b shares doing a RS,then converting to common shares.The board of directors havent recommended any thing so far to us common share holders as far as I know.If they did that means we would get to vote on it.Doesnt make sence for exol to RS if were the ones buying sun.If exol did the split on common shares that would only leave us with about 3 million shares and the company we buying with 100s of millions of shares of exol The holders of Series 1-A Preferred shares of SPPC shall receive exactly 0.9764 share of newly designated Series B Preferred Shares (the “EXOL Series B Shares” described in Item 5.03 below) in exchange for each share of Series 1-A Preferred of SPPC. The EXOL Series B Preferred Shares shall automatically convert at a rate of 30.8565 of common shares for each share of EXOL Series B Preferred Share upon the effectiveness of a reverse stock split of 50:1, which the Board of Directors has recommended to the shareholders. The Series B Preferred Share have voting rights equal to the aggregate common shares upon conversion