Nobody12378 I think you are generally very fair with your post and I enjoy your perspective/opinion since you have been around this deal.
a difference of opinion I think the Kevin factor- as you point out as the jockey not the horse is critical in my opinion- for starters I don't think he has provided any indication to shareholders that he is coming back ?
So as you put it.. the horse is the key not the jockey- btw I love a good analogy .
A few factors to consider is Kevin can do as he pleases- he seems to intertwine companies & assets, debt holders with little regard for that company- Canalytix- Flux- TCA- EXO- lots of pieces are interchangeable as he sees fit and one day there are with one company next thing you know they are moved somewhere else- communications to retail is of little concern.
So- I'll entertain the idea that Greenshift wins a big lawsuit against several players in the industry- that would be exciting but we can count the ways retail gets carved our of that deal
1.) What percentage goes to Greenshift after ATTIS deal ? 20 %
2.) Debenture & preferred shareholders can likely convert debt into common shares and quickly take the current percentage available to retail and dilute retails portion of the pie to crumbs.
I know most will say BTZO is carved out of this equation but its wording like this that can cut retail our of the fun and keep the money for the inner circle.
Look at the wording on this "past deal"- without going through every debenture wording and any new wording they may be drafting up now...
majority of the Company's outstanding shares of Series G Preferred Stock are owned by Bitzio, Inc. The majority shareholder of Bitzio, Inc., is FLUX Carbon Corporation ("FCC"), an entity owned by Kevin Kreisler, the chairman of the Company. If all the Series G shares held by Bitzio were converted and exceeded the number of authorized common shares, there would be no contingent factors or events that a third party could bring up that would prevent Mr. Kreisler from causing the Company to authorize the additional shares. There would be no need to go to anyone outside the Company for approval since Mr. Kreisler, through FCC, controls the Company's majority shareholder. As a result, the share settlement is controlled by the Company and with ASC 815. The Company assessed all other factors in ASC 815 to determine how the conversion feature would be classified. The only conditions under which the Company would be required to redeem its convertible preferred stock for cash would be in the event of a liquidation of the Company or in the event of a cash-out merger of the Company.
( btw Kevin & Exo I would guess are the recent sellers on ATTIS-given the common stock they just received )
Stockholders' Equity (Deficit):
Convertible preferred stock, $0.001 par value, 5,000,000 shares authorized:
Series B: 2,480,544 and 2,480,544 shares issued and outstanding, respectively
2,481
2,481
Series G: 800,000 and 800,000 shares issued and outstanding, respectively
I get that these are old numbers- but if the jockey wants to steer the fastest horse off the track I think they can..
All I want from Kevin is better transparency with retail- then adios.. and Good luck to all..
