NaturalShrimp Inc (SHMP)

[alexbh2285]

My information is from the Series B Preferred Shares. These are CONVERTIBLE preferreds convertible at ANY TIME from issue on.

The description of these Series B CONVERTIBLE Preferred Stock (as they are called in this legal document) is in Exhibit 3 of of the 10-Q filed 11/14/19 for the period ending 9/30/19.

Your failure to be able to read financial or legal documents led you to the opposite conclusion of the truth which is that these are CONVERTIBLE at any time and REDEEMABLE (i.e., GHS can ask for the cash back) upon a trigger as in Section 5 of that document.

Quote:
Section 5. Conversion a) Conversion at option of Holder. Each Share of Prefered Stock shall be convertible, at any time and from time to time from and after the Original Issue Date at the option of the holder thereof

The difference between convertible preferreds and convertible debentures is ranking in bankruptcy - they are both dilutive and in this case extremely dilutive converting at any time and at a significant discount due to the a very valuable look back period to convert at that the LOWEST VWAP over the 20 day observation period.