GNCC Capital Inc (GNCP)

[Tgarfield2]

These are not shares. This is a payment of dividends due on preferreds straight out of the financials record dates. If you have read the last releases the company was having a hard time getting preferred holders to capitalize the interest/dividends. That was the old interest/dividends so it goes to say more capitalizations are not going to be easier. That capitalization of old dividends was so important, future wrote about 5 posts on it.

There is no money, so the payment is either common shares, preferred shares of the same class, or preferred X (no one wants them apparently because the deal is as weak as the biocann preferreds).

If there is never an actual payment on preferreds, then why have them other than to convert. They have never received a payment and some of these are getting old.