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Thursday, October 15, 2020 2:03:45 PM
Visual Healthcare Corp. (OTC PINK: VSHC) announced today it has received signed subscription agreements and commitments for approximately half of its friends and family capital raise of up to $1 million. The Company is offering up to half of its Series B Preferred Stock at $2.00 per share. Each share may be converted to 100 shares of the Company’s common stock, resulting in an equivalent price of $0.02 per share of common stock. The shares carry a restriction period of two (2) years. The Company plans to sell the rest of its Series B Preferred Stock at no less than $5.00 per share ($0.05 per share of common stock equivalent) at some point in the future.
Turns out they only sold "173,750 as of date: June 30, 2019."
So those preferred shares alone represent 17,375,000 common shares of potential dilution. If they have sold all 1M preferred B shares, that would represent 100,000,000 common shares of dilution. Not saying any Preferred shareholders will immediately convert when able. Just something else to consider as we move down the calendar to the end of the 2 year restriction period.
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