Greater Cannabis Company Inc (GCAN)

[midas716]

It is 100% worth it to Aitan, who will receive 1000 Series B at a conversion rate of 100,000 for 1 post split. That's 100m and 100% control of the voting power. It also benefits each of the preferred holders with a conversion ratio of 1 for 50 * 1.76, with a 'proportional' decrease. The only ones who won't benefit are the common holders who get wiped out. They have no choice. From the 14c. They are now over the A/S by just shy of 200m. Edit - 100m. Aitan doesn't get his 1000 B converted to 100m until after the split.

Conversion.

(a) Series A Preferred Shares are convertible at the option of their holder in whole or in part at any time except that they shall not be convertible at any time that there are not a sufficient number of authorized shares of common stock not reserved for other purposes so that all outstanding Series A Preferred Shares can be converted.