8k is Criminal and will be dealt with. SELF ENRICHING KLUG . WHAT a HORROR SHOW . He just gave himself a preferred position plus a dividend- THE opposite of the 8k a few weeks ago and his lawyers let him do this. BOD- will be sued for this - Our boys and girls know a derivative suit is coming and the authorities will be notified. HORRIFIC day for shareholders -- BRING THE 10k 10k 10k WE need to see everything this crook did.
SELF ENRICHMENT = JAIL TIME. SEC WILL LOVE THIS ONE. CAN you IMAGINE IF EVERY CEO/CFO DECIDED TO DO THIS. WOW
Holders of the Series B Preferred Stock are entitled to receive cumulative dividends at a rate of 5% per annum, payable quarterly in cash, or at the Company’s option, such dividends shall be accreted to, and increase, the stated value of the issued Series B Preferred Stock (“PIK dividends”). Holders of the Series B Preferred Stock are entitled to votes on all matters submitted to stockholders at a rate of ten votes for each share of common stock into which the Series B Preferred Stock may be converted. After six months from issuance, each share of Series B Preferred Stock is convertible, at the option of the holder, into the number of shares of common stock equal to the quotient of the stated value, as adjusted for PIK dividends, by $0.015, as adjusted for stock splits and dividends.
