Cyclone Power Technologies, Inc. (fka CYPW)

[arnold]

LORTAP, yes I agree. "Who here doesn't know about the millions of shares now in the cue?
Someone at the company should be forthcoming and let us know if they are about to sell us to a penny or below.
that's all...!"


The Series A shares were convertible into approximately 46 million shares of common stock.


The QUARTERLY REPORT states the outstanding shares are,COMMON STOCK... SERIES A CONVERTIBLE PREFERRED STOCK,and SERIES B PREFERRED STOCK...(Item 2, Shares Outstanding....page 1 and 2)

___________________

COMMON STOCK 86,877,706

SERIES A CONVERTIBLE PREFERRED STOCK 500,000

*As of March 31, 2009, the Series A shares were convertible into approximately 46 million shares of common stock. (NOTE 9 page 15)


SERIES B PREFERRED STOCK 1,000

*NOTE 9 – PREFERRED STOCK
Preferred stock consists of 500,000 Series A Convertible Preferred (“Series A”) and 1,000 Series B Preferred (“Series B”) shares. Series A shares are currently convertible into a number of common shares that, when combined with the 33 million common shares that the Series A holders held as of July 2, 2007, equal sixty percent (60%) of the then total issued and outstanding common shares. The Series A holders are the original equity holders of the LLLP. The conversion of the Series A shares will have the effect of diluting all other common stock shareholders. As of March 31, 2009, the Series A shares were convertible into approximately 46 million shares of common stock. The Series B shares are majority voting shares and are held by senior management. Ownership of the Series B shares assures the holders thereof a 51% voting control over the common stock of the Company. The Series B shares are convertible on a one-for-one basis with the common stock in the instance the Company is merged or sold.

http://www.pinksheets.com/pink/quote/quote.jsp?symbol=cypw

click on filings, click on quarterly report, open