From within the 10K, it explains why we should not be worried about the Preferred Shares being dumped on us until after it reaches .05 per share. It reads below...
Personally, I think we don't have anything to worry about until it reaches .05 per share. That's when I think we should start looking for something to be filed indicating that they would be planning on releasing shares.
If for some reason those with Preferred Shares feel the need to sell before .05 per share, they will be issued additional shares to appease that urge as it was stated above too from their 10K.
By MHII being an OTCBB stock, I think they are "supposed" to let us know when they are planning on diluting.
I also spoke with the company to confirm many of my thoughts. Those 2 billion+ shares could be considered as being retired to where they cease to exist. They will not be going to the Treasury. The company told me to see it as the opposite of dilution as those shares will not be part of the Authorized Shares (AS) either. Now this was very good to know.
Again, we know the company had some reverse split problems in the past, but maybe... just maybe... they really are turning the corner and really are trying to do the right thing by its shareholders.
Because of its history, I think people really should only invest what they can afford to lose. The company still has some proving to do to the investing community to prove its worth.
I was also told to expect to see more news next week.
MHII is currently at .0059 per share. That’s a Market Capital of:
.0059 x 202,000,000 = $1,191,800
With MHII generating and filing for this recent 10Q Revenues of $2,741,008 which is $10,964,032 in Revenues Annualized which gave them their reported .0124 EPS, something seems wrong with this MHII picture again, but this time it looks like it is wrong for the better to benefit its shareholders. Let’s hope so.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.