From the security definitions in the SEC files.
"Series B Preferred Stock
The Series B Preferred Stock ranks senior to any of the shares of Common Stock and any other class or series of stock of our company which by its terms shall rank junior to the Series B Preferred Stock. The Series B Preferred Stock pays no dividend. Each holder of Series B Preferred Stock shall have the right, at such holder’s option, at any time or from time to time, to convert each share of Series B Stock into one (1) fully-paid and non-assessable share of Common Stock. The Series B Preferred Stock shall carry no voting power, subject to certain limited exceptions and as provided by the Nevada Revised Statutes."
Doesn't really matter what stocks he will retire does it? Unless he forgot what he told us in the last call...
so the share count on the 5th was 98 mil and then on the 21st they signed an authorization for increasing the O/S to 130 mil from 100 mil. But on the same day they added another 3.6 mil shares which ads up to 101.6 mil shares. I get that.
But what I do not get is why they said this in the file from the 21st of december
"At present, the board of directors has no plans to issue the additional shares of Common Stock authorized by the Amendment. However, it is possible that some of these additional shares could be used in the future for various other purposes without further stockholder approval, except as such approval may be required in particular cases by our charter documents, applicable law or the rules of any stock exchange or other quotation system on which our securities may then be listed. These purposes may include: raising capital, providing equity incentives to employees, officers or directors, establishing strategic relationships with other companies, and expanding our business or product lines through the acquisition of other businesses or products.
Or maybe I got it all wrong ? I am sure someone will point it out to me :)
Maui.. I see Chad is on the board today, I hope you emailed Chad what you wrote to him. Good work by the way.
