Green Leaf Innovations Inc (GRLF)

[The Rainmaker]

Bottom line this sold off because of this part of the filing. Who just bought those 40 million preferred E shares of GDSM from Western Sierra for $400k. How many common shares do they convert into? What's the conversion ratio. Since they were issued in 2009 they convert into free trading shares now. I've seen preferred shares that convert into 100 common shares, some even higher. The warrants were just window dressing so everyone says oh, 15 cents for a warrant. They must think this is going higher.

Western Sierra Mining agreed to sell 40mm Series E Preferred Stock it received in 2009 from the Company to a group of investors for $400,000. These preferred shares were issued to Western Sierra Mining in 2009 as part of the parties previous joint venture efforts. Western Sierra Mining has agreed to apply these funds, on behalf of the Company, to the funding schedule above therefore completing the funding required for Phase I and II of the claims development.
-As consideration for the sale of the preferred shares, the Company has agreed to assign back to Western Sierra Mining 5% of its joint venture interest in the claims. The Company may buy back the 5% interest for $100,000. Additionally, the Company has agreed to issue Western Sierra Mining four million shares of a new series of preferred that may be converted to common in 1 year.