Preferred B Shares issue is resolved, according to the 2017 annual report file in October, 2017. Under the SERIES B PREFERRED STOCK DESCRIPTION -- CONVERSION AND ANTI-DILUTION section:
Series B Preferred shares - "subject to adjustment as may be determined by the Board of Directors from time to time (the "Conversion Rate")"
Thus, allowing the company to change it at their leisure, without worrying about filing and waiting for it to take effect.
The Series-B share conversion was changed by the company by a factor of 1000, reducing the total number of shares after conversion from 37 Billion to a measly 37 Million effective immediately! Massive for us common shareholders! Is this what the company meant when they said there would be some type of share reduction or does it get better? Tell me it isn't so! Go ANDI/UTOP and GLTA! BABB!
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