Mining Company research board

[pitboss22]

Also on Feb 14, the CEO, Al Pietrangelo GAVE himself 1,000,000 Series A preferred shares, each of which has 300 votes and allows the holder to vote on an as-converted basis with the holders of common stock. So he now controls something like 68% of the voting stock by himself.

The reason given in the 13d was listed as.....

Item 4. Purpose of Transaction.

The Reporting Person acquired his shares of Common Stock and Series A preferred stock to acquire control of the Issuer in anticipation of facilitating the growth of the Issuer by future, unspecified acquisitions.



I believe as the sole holder of the preferred shares, he is first in line to pick the bones also.