Entest Group Inc

[casper1]

Barlie
Entest is a Nevada corporation and is thus governed by the Nevada Revised Statutes (NRS). Under the NRS, Preferred Stock is defined under NRS 78.426 as any class or series of shares of a resident domestic corporation that under the bylaws or articles of incorporation of the resident domestic corporation is entitled to receive payment of dividends before any payment of dividends on common shares or is entitled to be paid prior to common shareholders in the event of a liquidation.
In other words, if a preferred dividend is declared and not paid (accrued) it must be paid prior to a common stock dividend being paid and if the company goes into bankruptcy the preferred shareholders get paid prior to common shareholders (usually a moot point as many bankrupts have nothing left to pay ANY shareholders after paying creditors).
There is no law that says preferred shareholders must be paid extremely high dividends or any dividends at all. No dividend at all was declared in the certificate of designation, only an extremely high number of votes per share. In any event, no preferred shares have been issued as of yet.