Escalon Medical Corp. (ESMC)

[greasemonkeyshoes]

From Subsequent Event,10-Q.......
"On February 14, 2018, the Company entered into a Debt Exchange Agreement (the “Exchange Agreement”) with Richard J. DePiano Sr. (“Mr. DePiano”), the Company's Chairman and DP Associates Inc. Profit-Sharing Plan of which Mr. DePiano is the sole owner and sole trustee (the “Holders”). Pursuant to the terms of the Exchange Agreement, effective February 15, 2018, the Holders are exchanging a total of $645,000 principal amount of debt the Company owes the Holders (See Note 6) for 2,000,000 shares of Series A Convertible Preferred Stock (the “Preferred Stock”).

Each share the Preferred Stock entitles the Holder thereof to 13 votes per share and will vote together with all other classes and series of stock of the Company as a single class on all actions to be taken by the Company’s stockholders. As a result of this voting power, the Holders as of February 15, 2018 beneficially own approximately 77.49% of the voting power on all actions to be taken by the Company’s shareholders."

They(management) have definitely been preparing for a takeover,hostile or friendly. wooowwwwww.