Global Developments Inc (GDVM)

[SmoothTrader61]

From my research, the a/s needs to at a minimum, equal the total number of outstanding shares plus any convertible preferred shares, warrants, etc.
Obviously something doesn’t add up with preferred shares that are convertible to 10B common shares plus 368m outstanding

Is there some provision that you know of that allows this if all the preferred are controlled by Melvin himself?

Is there a typo on the number of shares the preferred converts to?

Is Melvin planning to adjust the conversion rate of the preferred shares?

This new reduction is great but we also need some clarification on the preferred shares