Red Cat Holdings Inc (RCAT)

[investor2004]

Yes, lots of prayers! No matter what he does, if it is not meant to be, it will not work for him and backfire.

Like, I sure hope this whole preferred stock issuance is legal, specifically, in the way he has done it and the circumstances. I am, of course, not a lawyer but am just applying basic common sense IMHO. Potentially, it is VERY obvious he created and granted himself those shares specifically to overturn two legitimate votes in a row. That may end up being the bugaboo here...not planning ahead but being reactionary to two votes not letting him do what he wants in defiance of the shareholders. Sam said he contacted the SEC. I am guessing that "super shares" issuance to himself, could cause many more of the 500+ shareholders who voted against this to do so also considering many do not have much to lose at this point. The preferred issuance also seems as a major conflict of interest not allowing anyone else to have a chance at the purchase as well as the pricing structure and he as the CEO being able to purchase. And, the reasoning was SO SPECIFIC in the filing that again it could be seen as an issue that way also to overturn the vote. It is as if he really has no idea what he is doing and blindly trusts the lawyers are right when he runs it past them. Ask Stormy Daniels how that is working out for her lately!LOL