Asia Broadband Inc (AABB)

[gitreal]

If there are only 2 preferred shares, they can currently do that magic conversion only twice. But what a deal - basically they can cash in the preferred share for as many common shares that are issued and outstanding. That could be billions? Or at least hundreds of millions.

And the number of preferred shares can be increased, so they can reload that magic deal.

Might as well just say that the holder of the preferred shares can have endless shares. As you said, even better than the Clive Note (which is pretty nuts).

I might post this on the DD Board (Janice & her Minions) and ask those guys if they ever heard of such a deal. Actually, you should post it - you found it.