Prom Resources Inc (PRMO)

[DC168]

Any body familiar with the preferred share situation with PRMO?

Currently 350,000 preferred share owned by PRMO's Principals. They are $10 per share. Also redeemable, convertible and has priority to receive dividend or upon liquidation. Thus they gets dividend first, then the balance $ go to common share holder.

Who are the principals that own preferred share? According to June and Sept 2010 Financial and quarter report, it seems that they purchased in 2010, for a total of $3,500,000 revenue for PRMO.