Artificial Intelligence Technology Solutions Inc (AITX)

[JBGoode]

Pardon my ignorance, but doesn't the below section show series F shares are convertible based on the number of issued & outstanding shares, and not based on a set monetary value?

"The holder may, at any time and from time to time convert all, but not less than all, of its shares of Series F convertible preferred stock into a number of fully paid and non-assessable shares of common stock determined by multiplying the number of issued and outstanding shares of common stock of the Registrant on the date of conversion by three and 45 100ths (3.45)."

So initially, at the onset of the R/S, common shares will be reduced by a factor of 100x (resulting in no value change to Series E or common) but if the company then issues more shares (which they've indicated is their main purpose for the R/S), the value of the series E will increase (while the commons will decrease)?