Thursday, September 30, 2010 7:09:43 PM
Worse they are convertable at .00667 so based on the latest and greatest 8k they are worth just shy of 100m common shares (25% dilution in one go)
The original 8k said they had a value of $1000 or 149,900 common per preferred share but that would equal like 95.3 Billion common shares so must be wrong.
Hilariously too, DKAM still owe PK almost $100k after giving him all those shares.
As per the corrected 8k
·
Each share of Series C Preferred Stock will be convertible into the number of share of the Common Stock equal to the Stated Value of $1,000 divided by the Conversion Price of $0.00667 (subject to adjustment for stock splits, stock dividends, and similar transactions).
·
The Series C Preferred Stock will vote as a single class with the common stock and the holders of the Series C Preferred Stock will have the number of votes equal to 165 times the number of shares of Series C Preferred Stock.
·
Upon liquidation, the holders of the Series C Preferred Stock will have the right to receive, prior to any distribution with respect to the common stock, but subject to the rights of the holders of the Series A Preferred Stock and Series B Preferred Stock, the Stated Value (plus any other fees or liquidated damages payable thereon).
Glidelogic Corp. Becomes TikTok Shop Partner, Opening a New Chapter in E-commerce Services • GDLG • Jul 5, 2024 7:09 AM
Freedom Holdings Corporate Update; Announces Management Has Signed Letter of Intent • FHLD • Jul 3, 2024 9:00 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM
BNCM and DELEX Healthcare Group Announce Strategic Merger to Drive Expansion and Growth • BNCM • Jul 2, 2024 7:19 AM
NUBURU Announces Upcoming TV Interview Featuring CEO Brian Knaley on Fox Business, Bloomberg TV, and Newsmax TV as Sponsored Programming • BURU • Jul 1, 2024 1:57 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM