as CIIX is raising cash by issuing millions of shares of preferred stock convertible into common stock at $0.50/share while the stock price of CIIX is trading in the $0.75 to $1.00/share range
The Company is currently in the process of offering up to 10,000,000 shares of its Series D-2017 Convertible Preferred Stock. Each share of Series D-2017 Preferred Stock is convertible into 2 shares of the Company’s common stock. The Series D-2017 Convertible Preferred Stock will pay at least two years of dividends at the rate of 6% per year on the original investment of $1 per share of Series D-2017 Convertible Preferred Stock.
As of August 29, 2017, the Company has raised approximately $2m through the Series D private placement
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