GNCC Capital Inc (GNCP)

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You are Incorrect ,GNCP Preferred holders need to wait a year till then we await news R.I.P Shorty . Got GNCP Gold . ? imo so they are not shorting. but shorty will go broke soon imo cant wait! lol

Section
6:
CONVERSION
(a)
Conversion Right.
Each share of Series X Convertible Preferred Stock shall be convertible, at the option of the holder thereof, at any time after 1 (One) one year after the date such share was issued (subject to the limitations set forth in Section
6.c below), and without the payment of additional consideration by the holder thereof, into such
number of fully-
paid and non-assessable shares of Common Stock as is determined
by dividing the Stated Value
per share, by the Series
X Preferred Convertible Stock,
Conversion Price in effect at the time of conversion.
The “Series X
Conversion Price
”shall be 85% (Eighty five percent) of the average
trading price for the 5 (Five) consecutive trading days next preceding the date of the notice of conversion as reported on OTCMarkets.com or such other United States
trading market or stock exchange as shall then be the primary market (by volume) for the Corporation’s shares of common stock; provided, however, tha
t the Series X Conversion Price, and the rate at which shares of Series X Convertible Preferred
Stock may be converted into shares of Common Stock, shall be subject to adjustment as provided in Section
7 below. Shares of Series X Convertible
Preferred Stock converted into shares of Common Stock in accordance with the terms hereof shall be canceled and shall not be reissued.


https://backend.otcmarkets.com/otcapi/company/financial-report/191432/content