CLST Holdings Inc (CLHI)

[Majobuki]

Here's another thing that doesn't make sense. Stephenson was issued the 1 preferred share, right? This paragraph is from the proxy that we all voted for. How in the hell can he convert his 1 share into 250 million common shares when there are only 200 million authorized? So, expect a large increase in both the A/S as well as the O/S. They will dilute the hell out of this and say it's for all the acquisitions. Yeah right. Seen it before.

Section 3. Conversion in to common shares. The share of 2020 Series A Preferred Stock shall convert into
common shares at a conversion rate of 1 preferred to 250,000,000 common shares. The holder of the 2020 Series A Preferred
Stock can affect the conversion at any time. The conversion in to common is a right and conversion is not required.