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Tuesday, April 16, 2019 6:42:58 PM
Not BS. It’s in the SEC filings of this fully audited SEC reporting company.
I’ve posted this before but thought I’d post it again for those who didn’t see it or for those who have forgotten.
The CEO not only said he wouldn’t sell until $3 per share, he followed up with action and documented this action in SEC filings. Actions speak louder than words.
The CEO exchanged 1 billion of his own common shares for non-tradable preferred shares and locked them away fo 5 years or until the share price reaches $3.00, whichever comes first.
NOTE: There are still 2.5 years remaining in the preferred share lockup period.
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In October of 2016 the TTCM CEO and two other board members (at the time) exchanged a combined 1.3 billion of the common shares they owned into 13,795,104 shares of Series D (non-tradable) preferred stock.
Below are the Conversion Rights for these non-tradable Series D Preferred Shares as shownin the SEC Filings...
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A holder may convert Preferred Shares to common under the following conditions:
Automatic conversion
– each Preferred Share automatically converts to 100 common shares upon the earlier of
· The end of 5 years (5:00 PM EST, October 5, 2021), or
· A change of control
Optional conversion
- After October 5, 2017, each holder may convert each share into 100 shares of common stock immediately following a period of ten consecutive trading days during which the average closing or last sale price exceeds $3.00 per share. Also, each holder may convert into 110 shares of common stock at any time that the shares are listed on a National exchange (for example, the NYSE or NASDAQ).
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$TTCM
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