Andiamo Corp. (ANDI)

[janice shell]

As far as having a crap load of toxic Debt. Most could pay that off with their credit card!!!!!!!!!!!!!

And what about all that convertible preferred?

Ian Brewster, the company's only greater-than-10% shareholder, owns 117 million shares of the Series A preferred as his control block. He was, of course, the person who actually bought the ANDI shell from William White. Additional Series A stock--about 13 million shares--is held by one or more other people.

There are currently 18,752,860 shares of Series B preferred issued and outstanding. The question of the conversion rate of this class has been discussed here many times, but the company has still not filed an amendment to its corporate charter changing it.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=139848577

The Series C preferred--634,254 shares issued and outstanding--is owned by ordinary ANDI shareholders who received it as a kind of gift associated with Javan King's 2013 promotion of the stock. The legality of the issuance is questionable:

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=139668045

The Series D, E, and F preferred were all designated by William White in May 2016. D and F have no shares outstanding; E has 25,000 shares outstanding.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=139687708

Convertible preferred stock can be just as dilutive as convertible debt.

https://backend.otcmarkets.com/otcapi/company/financial-report/190282/content