Hypertension Diagnostics Inc (HDII)

[Cache]

They are control shares. They can convert at 1000:1 but it doesn't mean they will. The conversion feature protects the company from any future attempts at a hostile takeover. For example, if someone were to buy 51% of the outstanding shares, Mr. Peng could convert some of his preferred to shares to increase the o/s so no one could ever become the majority shareholder of the company.

On May 24th , 2019, Mr. Liangjian Peng, through a Stock Purchase Agreement, received 3 Million Preferred shares controlling shares with voting rights and conversion of 1:1000 common shares of the company stock.