1812 Brewing Company Inc (KEGS)

[crashman]

No that's not quite true, as his preferreds convert to 4 times the OS. At the corrent OS of 2.5 billion shares, his 100k preferred shares convert to 10 billion shares. For every share issued to YA, he gets to convert another 4 shares.
You are only correct if you mean a FIXED ratio to the OS.

So yes, if the sp goes down, the value of his holdings go down to, but when the OS goes up, the value of his holdings goes up even more.