Thursday, August 16, 2018 12:53:14 PM
Traditionally Preferred shares act more like a Secured Bond. The holders of Preferred Shares will get paid first on any buyouts. On one of my startups, I took capital from an Angel Investor to front load my R&D. He got his early investment out first when we brokered the sale via the preferred shares we created. My common equity shares were last on the list to receive any proceeds. I learned a very valuable lesson in getting paid last meanwhile doing all the work. He who owns the Gold Makes the Rules.
So yep, those insider executives are double dipping here and they just loaded up more common shares too. This is as bad as one person feeding a victim to save their life but at the same time, robbing their boots.
Recent JAN News
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