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Thursday, July 21, 2022 9:24:32 PM
https://www.otcmarkets.com/filing/html?id=15724893&guid=yeU-kFKzGmxPB3h
Doing the math, thats 50 Mill shares of common shares (of which 10 Mill has been converted already)
"Each share of Series E Preferred Stock has a 10-to-1 voting preference where everyone share of Series E Preferred Stock is equivalent in votes to ten shares of Common Stock, resulting in the equivalent of 50,000,000 voting shares of common stock. When combined with the voting rights of current common and preferred shareholders, the Series E Preferred shareholder(s) has a 21.2% vote on all company matters on a fully diluted basis."
But then theres these anti-dilutive Series F Preferreds that will just bury us"
"Represents 10,000 shares of our Series F Preferred Stock owned directly by Shannon Masjedi. Each share of Series F Preferred Stock is convertible into 0.1% of the issued and outstanding stock at the time of conversion and has voting rights equivalent to the conversion rights for a total of 31,619,142 common stock voting share equivalents representing 71.6% of the voting power on fully diluted basis."
It means that as of right now at 235 Mill shares, IF she were to convert now (it gets worse as time goes on), she'd have 235 Mill * .001 * 10000 = 2.35B + 50 Mill (Series E) = 2.4 Bill shares, then 2.4 Bill / 2.4 Bill + 235 Mill (current) = meaning she'll own ~ 91% of the company, wow, our shares will be practically worthless. Should we be concerned? Maybe that is why the company is being valued as such. I need to rethink some things here.
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