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Re: Renee post# 88208

Monday, 01/03/2011 11:13:00 PM

Monday, January 03, 2011 11:13:00 PM

Post# of 103341
Yes, Renee, but they converted their preferreds to commons, no? How did they regain control of the preferreds without a shareholder vote? If they sold the commons they no longer had the right to undertake any corporate action without a majority vote. Did they just wake up one morning and gift themselves the preferreds? Is that allowable under Nevada corporate statutes?

I don't know the answers but they're interesting questions.
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