"Shares of our Series B Preferred Stock will be entitled to vote on an as-converted to common stock basis on all matters on which stockholders are generally entitled to vote (provided that no holder of Series B Preferred Stock will be entitled to such number of votes in excess of such holder's beneficial ownership limitation). "
and
"Each Preferred Share is convertible at any time at the option of the holder into 16,667 shares of our common stock (the "Conversion Rate"), provided that the holder will be prohibited from converting Preferred Shares into shares of our common stock if, as a result of such conversion, the holder, together with its affiliates, would beneficially own more than 9.99% of the total number of shares of our common stock then issued and outstanding after giving effect to such conversion."
SEC filed SC 13G: March 26, 2019 (Date of Event Which Requires Filing of this Statement) This is the next day after the HMNY share ownership date of record to vote upon the May 31st, 2019, Reverse. http://mysec.hmna.com/MYSEC/documents/html/hmny20190328_SC13G.txt.
On March 26th 2019, Financier Sabby Volatility Warrant Master Fund, Ltd. does convert these Preferred B shares at the maximum it can, which is no more than 9.99% of the 2,001,541,260 outstanding shares as was outstanding as of March 25th, 2019) into 199,953,972 common shares.
These new 199,953,972 shares are new common shares, yet Sabby cannot vote these shares as these shares were acquired after the March 25th, 2019, date of record to vote upon the Reverse Split.
Should we assume Sabby voted in favor for the Reverse split? If so, New shares, means these new shares did not exist at the prior two dates of record of the prior two shareholder-rejected Reverse splits.
And 9.99% 199,953,972 new shares is not enough to account for the Helios reported majority winning shares as published result of the May 31st, 2019, reverse split, at the supposed Special Meeting which appears to not have existed, and if t did, Helios and/or its meeting organizer, Computershare, blocked or prevented shareholders from attending.
Helios did not provide a breakdown of vote results from Preferred B, and Preferred A, and Common Share votes, but lumped total tallies into one compiled total number.
What's the actual breakdown of each category of Preferred B, Preferred A, and Common shares votes of the same class?
And how are non-voting Preferred B shares counted or allowed to vote?
How are Common shares voted twice, and as a separate class?
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