Wednesday, October 20, 2021 2:29:18 PM
Foote restricted the Pref B holders from converting to common stock until December 3, 2021, one year from the date of the acquisition. There is no limit on the amount.
Second, Rule 144 won’t allow the converted common stock to have its restrictive legend removed until Feb. 26, 2022 which is the Rule 144 one year holding requirement from the date of issue for the underlying convertible security..the Preferred B.
The ONLY other limitation, is that Foote said he would not convert his Pref B until at least the end of 2022. But that only accounts for about 2 Billion shares at most of common stock.
All of the other holders of the Pref B (about 3 Billion shares worth) have no other restriction. There are no lock up or leak out agreements in place.
Anyone is free to post any evidence that the above is incorrect.
"Harsh reality is always better than false hope"
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