wrong .. nothing has been proven, no shares have been registered - no shares have been issued for distribution
The annual non-cumulative dividend preference for both Series A and Series B Preferred Stock is 3% of the respective liquidation preference.
share holders get nothing ... share holders are earning NOTHING
What Does Noncumulative Mean? A type of preferred stock that does not pay the holder any unpaid or omitted dividends. If the corporation chooses to not pay dividends in a given year, the investor does not have the right to claim any of those forgone dividends in the future.