It appears after the $36M debt and liabilities are subtracted from the $48M, leaves approx. $12M. So, it then appears the "available for distribution" is between $8M - $12M, less the $1.21M.
Bottom side: $8M - $1.21M = $6.79M of which 12% will go to commons, of which there are 41.5M commons o/s. So, 12% of $6.79M divided by 41.5M = .01961
Top side: $12M....= .0294.
Leave it to the company to make sure all preferred s/h get well taken care of, first.
Not trying to call it a scam. Just trying to determine bottom line potential here. It is what it is. GL to everyone.
L~
"took me 3 long years to make a million bucks over night"
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