Sack Lunch Productions Inc (SAKL)

[seattletechguy]

Josh: Dilution starts immediately...

...following a reverse. The convertible preferred stock is already issued and outstanding. As soon as a BID appears, the holders will convert their stock and dump.

Between all the filings since the 10Q it's hard to tell exactly how much preferred stock is out there, but it's well in excess of $5 million worth. Indeed, if the Seamless share exchange goes through, it's in excess of $10 million worth.