Mike Lindell Media Corp (MLMC)

[herbert]

Edge - From the most recent 10Q


The issuance of shares upon conversion of the convertible
debentures issued to Golden Gate Investors, Inc. and exercise of
warrants may result in substantial dilution to the interests of other
stockholders since the selling stockholder may ultimately convert and
sell the full amount issuable on conversion. Although the selling
stockholder may not convert their convertible debentures and/or
exercise its warrants if such conversion or exercise would cause them
to own more than 9.9% of Company outstanding common stock, this
restriction does not prevent the selling stockholder from converting
and/or exercising some of its holdings and then converting the rest of
its holdings. In this way, the selling stockholder could sell more
than this limit while never holding more than this limit. There is no
upper limit on the number of shares that may be issued which may have
the effect of further diluting the proportionate equity interest and
voting power of holders of the common stock.