GTC Biotherapeutics (fka GTCB)

[DewDiligence]

>The above leads me to believe that the BOD can authorize additional Series D Preferred about any time they please IF LFB approves.<

To increase the Series D authorization above 15,000 shares (convertible into 15M shares of common), GTC would have to amend Article IV of the corporate charter with the Massachusetts Secretary of State. This might impose an unreasonable delay on the consummation of any deal that depended on such approval. By LFB’s converting preferred shares into common, this roadblock has been circumvented.

>I'm not trying to be argumentative, but I believe there may be other explanations for LFB's conversion. It may be as simple as they just want to lighten up some .... or lighten up a lot.<

This possibility was discussed earlier in this thread, but it’s hard to believe LFB intends to dump shares at these prices.