Tautachrome Inc (TTCM)

[jpinvest14]

The preferred shares were included on the balance sheet. If they were included in the “common shares” line, then they would have been counted twice.

And yes, this does mean that there was immediate dilution of 1.4 billion shares. I’ve made the point on here before that the OS was higher than it appeared because these preferreds existed. I think someone even asked DLM on Telegram and he dismissed it by saying “Not if the holders of those preferred shares choose not to convert them”. Well they did convert them.