GNCC Capital Inc (GNCP)

[Tgarfield2]

IF you want to convert the dividend payments to common shares when they trade at 0.0001 then times the interest by 2 and add 0000 to the end and you get the number of common shares they convert to. The preferred B's convert at 50% of the average price of the last 5 days trading. Probably why your now at 0.0001.

I guess the interest converts at only 0.0001 not 0.00005 but they can easily take the interest as preferreds and convert an equal amount of preferreds to get the double. It's not like the market could eat it all the preferreds anyway so a year of restriction on some is no big deal.

At least 44 million of the preferreds are old enough to convert to tradeable common shares.

Remember these deals were not designed by bashers but were done by the company years and years ago and are all filed many times over.