OWC Pharmaceutical Research Corp (OWCP)

[SamL67]

Preferred stock conversion per 8k
Unless I am reading this wrong, the lender can accelerate conversion of the preferred stock to common shares if they want to since the charges are considered a “triggering event”. This conversion would cause dilution.
I wonder if this is the reason for the jump in volume on Friday.
Sam
“The aforementioned charges brought against Dr. Baruch are considered a “triggering event” (a “Triggering Event”) under the certificate of designation (the “Certificate of Designation”) governing our Series A Convertible Preferred Stock (the “Series A Preferred Shares”). Subject to certain beneficial ownership limitations of the Series A Preferred Shares, at any time during the period commencing on the date of the occurrence of a Triggering Event and ending on the date of the cure of such Triggering Event, a holder of the Series A Preferred Shares may, at such holder’s option, by delivery of notice to the Company, specify a future date upon which such holder shall require the Company to convert all, or any number of, Series A Preferred Shares into shares of the Company’s common stock at an adjusted conversion ratio as specified in the Certificate of Designation.”