Cemtrex Inc (CETX)

[236T568]

the $ dividends are based on the original purchase price of the preferred stock

the price at which the company first issued those shares to the investors

I think you are right ksuave.

It clearly states that the dividend is 10% of the purchase price. (see page 5 of prospectus):

"Dividends. Holders of the Series 1 Preferred will be entitled to receive cumulative cash dividends at the rate of 10% of the purchase price per year, payable semiannually on the last day of March and September in each year. Dividends may also be paid, at our option, in additional shares of Series 1 Preferred. Dividends will be entitled to be paid prior to any dividend to the holders of our common stock. See “Description of Capital Stock —Series 1 Preferred —Dividends.”

https://www.sec.gov/Archives/edgar/data/1435064/000149315216015696/forms-1a.htm