Immediatek, Inc. (fka IMKI)

[Stock]

It's not immediately converted. Read the whole thing.

The transaction will have a dilutive effect upon the common stock of the Company including the 229,083 shares of common stock owned by Radical. Though purchasing Series B Convertible Preferred Stock which is convertible into common stock representing 1.50809% of the ownership of the Company, due to the dilution, Radical’s percentage of voting stock will increase only by 0.86%. Prior to the transaction, Radical owned 97.14% of the voting stock of the Company and after the transaction Radical owns 98% of the voting stock of the Company.