SOHM Inc (SHMN)

[SLC-JD]

The preferred stock has voting rights equal in all aspects to the number of Common Stock represented by such Preferred Stock on an as converted basis...Each share of preferred stock shall be convertible into one percent (1%) of the then issued and outstanding shares of common stock of the Company.

Interesting. It sounds like someone screwed up here. I imagine the intent was to give them a majority vote, and a majority of shares upon conversion.
However, if 51 shares of Pref were issued, and those 51 shares convert into 51% of the then issued & outstanding shares of common, that would mean that the effect of conversion/voting would be limited to a little over 1/3 (as opposed to a little over 1/2) of the total voting or then issued shares.