ok, I admit I am a bit (or a lot) in ignorance about what this means: "In addition, I am retiring 30 million preferred shares: 15 million today and 15 million in 30 days. These are my own shares and I am retiring them as a Thank You to shareholders. These are voting/control shares with a conversion ratio of 5000:1 common."
Please someone in the know, explain it, especially the true meaning and worth of the 5000:1 preferred ratio split? Does this mean that each of those shares is worth 5000 common shares?
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