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Thursday, December 15, 2011 7:37:09 PM
The $900K investor MacCheyne could end up with 51% of the company's stock, but the brass made sure he can never outvote them. All the shareholders together cannot outvote Riss+Richards.
A Series C shares outvote common shares by a factor of 2 million, and a new Series C shares is issued to Riss every time 2 million new shares are issued, so, about 1 a week. 51 Series C shares have been issued so far.
Riss and Richards don't have to pay for those shares that they just given themselves.
Something is up ? I hope it's PVSP's gross revenues. We won't know before the 10-K or the NT-10K.
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