WindStream Technologies Inc. (fka WSTI)

[rsh]

Upfront I must say I don't fully understand what Bates did here.

So with that:

He created Series B and C preferred shares but those can be exercised in 2 years and 1 year respectively. There are 50 million common shares issued per C shares upon conversion, for example. It is possible that 1 year has passed and we are seeing those being traded now but I don't have any way to tell that for sure.

I think some convertibles were put into Series B but there is this section in the "Fully Diluted Capitalization" that bothers me:

"excluding any shares of Common Stock issuable but not then actually issued upon conversion or exercise of any (1)convertible promissory notes issued by the Corporation prior to January 1, 2017 and (2) any stock purchase warrants issued in connections with such convertible promissory notes."

The toxic notes were prior to that, I think.

We can't tell what Bates actually implemented and how it affected the share "counts".

I really need to see a 10-q or something showing a Balance sheet. This stuff is too circular and I am now dizzy!

I will look at this more tonight or tomorrow morning after I get back.