Enzolytics Inc (ENZC)

[foxi]

Nice post!

I'm a bit skeptical there's been conversion this year, given:

- That "two-year conversion clause to postpone conversions for the next two years" in ENZC's 2020 year end update JOEBURGER cited

- "When convertible preferred stock holders choose to convert their stocks to common stocks, the stocks they receive are newly issued. This increases the total number of common shares." https://www.upcounsel.com/convertible-preferred-stock But we can see in ENZC's financials the total number of common shares has been steady for awhile.

- From this link the table on page 6 shows conversions stopped happening in October 2020 https://www.otcmarkets.com/otcapi/company/financial-report/311215/content

- From this link the table on page 3, which is "For the Period from December 31, 2019 to September 30, 2021" has an item for "Stock converted from preferred to common" of 20,000,000 (Series B preferred = 200,000,000 common?) shares. https://www.otcmarkets.com/otcapi/company/financial-report/312797/content


Nevertheless the chart patterns resemble conversion or dilution. If that's been happening somehow (I don't see how, but I also don't understand the ins and outs of convertible share structures) and the converting entities have run out of shares, it seems to me we'd see the ticker suddenly start trading flat through December with no more big selloffs. Then hopefully news in January to pump it up again.