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Tuesday, March 29, 2022 11:16:12 AM
If there are currently 1,575,576,407 shares issued and outstanding, 51% of that number is 803,543,967.
However, those 803.5MM shares are additive to the existing 1.575BB I&O; if converted, the total share count would be 2,379,120,374, of which the Pref holder's portion would be approx 33.8%
The funny thing is that there are only 2BB authorized, so the holder of the Pref shares can't convert without approval by the shareholders (as increasing auth would adversely impact shareholders).
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