Green Bridge Industries Inc (GRBG)

[enzymesarecool]

Insane,

Bill converted his common to preferreds and then is selling those preferreds to Allie so Allie has effective control of the company.

Very simple...PR said buying control of a public company. You do that by owning 50.1% of the votes. Votes are with the preferreds so Bill converts his common to preferreds so he has more to sell to Allie - all planned a while ago when they first started talking. So Bill gets to partially cash out and the rest of you get NIL.

Face up to it, (and I may be wrong) but IMO it appears that this deal is structured so that another pinkie CEO gets to screw the common shareholders.