NaturalShrimp Inc (SHMP)

[eqinvestor]

Trick question. The preferred is convertible into 100% of the shares outstanding at the time of conversion. So if there are 2 billion out, it converts into 2 billion upon election. However and regardless of the amount of the RS, the 100% does not change unless the certificate of designation dictated that which it does not. If there are 3 shares out and the preferred owner elects to convert, they get 3 shares. So they get less shares but will always get an amount equal to 100% of the outstanding at that time.