Global Developments Inc (GDVM)

[govprs]

No the AS doesn’t need to contain fully diluted share count

This is my understanding say xyz has AS of 1bill and OS 750mSo they could dilute upto 250m

Now convertible holder. Some class of preferreds wants to convert 10 preferreds each converts to 500m common.


They couldn’t convert all 10 unless the AS was raised to 1.25bil. They could convert 5 and dump a maximum of 250m shares

What just happened is Melvin reduced his ability to dilute by 650m shares. If he wants to dilute at some point. Beyond the 850m (I think your concern on his preferreds) he has to Raise the AS

Unbelievably shareholder friendly. Trading 50years have never ever on any exchange see this done twice. Finra gonna rubber stamp us any day