Woodbrook Group Holdings Inc (WDBG)

[trader59]

Yeah, so a CEO with 25 years experience who "owned" this allegedly successful company just took 2.4M preferred shares of NHPI for it. Those shares do give him control with 2.4B votes to the A/S of 2B, but the common shares issued and outstanding are 1.2B+ to the 24M he owns should he convert those shares. This wiley veteran of investment and advisor and manager of $2B of other people's money just gave away his successful company to the holders of 1.2B shares that were issued and outstanding at the time of the reverse merger.

Happens all the time.

Not.

If he did that, he either intends to wipe out the existing equity/shareholders with a massive RS (which he can do since he has voting control and is the sole director) or he's not very good at his job.