Wednesday, March 27, 2013 2:55:46 PM
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=41415
As of
September 30, 2012: O/S = 2.146 billion, A/S = 2.249 billion, P/S authorized = 100 million, P/S issued =2.379 million
http://www.otcmarkets.com/financialReportViewer?symbol=MIKP&id=91918
So the diluted/fully converted amount of issued and outstanding P/S (preferred shares) = nearly 13 BILLION shares or most accurately: 12,965,550,000.
Last I checked the articles of incorporation (in Delaware and Wyoming) state that the company must keep a number of authorized shares on reserve for the possible conversion of all issued and outstanding preferred shares. There's no record of any adequate amount of Authorized shares on reserve for preferred shares conversion that I can find... Does anyone have more information to contribute about this matter?
If we go with the articles of incorporation in delaware, the conversion rate is 10 shares for everyone one preferred series A common shares.
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