Parsi may be stupid - but - he isn't an idiot. Yet - even an idiot realizes his demise prior to the event. He is setting up for his ouster/resignation. The evidence is his employment agreement with warrants and a severance package.That my friend is preparation for his inevitable ouster/resignation - not bankruptcy.
Had he issued preferred series A shares to himself it would be in preparation for bankruptcy. The common shares would be extinguished and worthless as the preferred series A shares get paid first.
First Amendment Rights do not cover deliberately making false statements.
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