Protagenic Therapeutics Inc. (PTIX)

[stockamaniac]

the following came from a poster on Dr P's board on the issue of shares after the new company takes effect:


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This may be my first or second post but I've been on this site for a while. In ATRN at .11 and holding. I made a PACER account this morning and am taking a look at the documents, but I'm at work so I'm getting through it very slowly. I found this in the Terms Sheet which mentions Common Stock in the company. Maybe some of you guys can translate it out of lawyer talk. I also had to retype it all out since it's just a photocopy so copy/paste was a no go.

Class 3. Common Stock in the Company...

Each Class Interest shall be impaired

In full and final satisfaction of all Class 3 Interests, each holder of a Class 3 Interest in full and final satisfaction of such allowed interest shall or retain its previously held shares of common stock of the Company which shall remain outstanding under the Reorganized Debtor which shall equal a pro rate share of 0 to 10% of newly issued common stock of the Reorganized Debtor.