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It is also time the government to end

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drugmanrx   Friday, 05/17/19 07:54:20 AM
Re: Ecomike post# 83198
Post # of 83963 
It is also time the government to end preferred class B voting stock.

Quote:
It's time the US Government tied Public Co CEO pay to the stock price, and or real, non-BS profits



SGSI is a perfect example of abuse of those voting rights.


September 10 2018 SGSI did a RS of 200 to 1, reducing the common shares to 1.1 million.

8 month later there are 32 million NEW outstanding shares, yet the two directors retain majority voting rights.

It would seem that if the system was set up fairly that when the common shareholder was reduced by 200 to 1 the voting power of the 2 directors should have also been diluted 200 to 1.

Which would have resulted in the 2 directors no longer controlling majority voting rights over the company.

IMHO, this result in SGSI actually being a privately held company by the 2 directors as the new shareholders owning 97% of the post split company shares have no voting right what so ever.





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