Frequency Holdings Inc (FRQN)

[trader59]

You're evading the question. Those preferreds convert into what is described as 87.5% of the company equity for the Reachout owners, 10% for Trillium Partners, and 2.5% for Dickson. I'd stated that the only way to get there was a RS to wipe out the standing equity (common stock) and then the conversions, and it seems that prophecy is coming true. It's irrelevant they haven't converted anything yet, but they're going to.
It's OK, the owners of Reachout should own the vast majority of the public company, but it's been misleading (being kind) to not tell the current shareholders what's coming down the pike.