If you can only convert one, then that means regardless of how many common shares you hold now, whether you own $100,000 or $2.50 value, you can only convert one?? So, someone who has only invested $2.50 into the company is going to get back $250,000??
If you can only convert one, then why would you receive more than 1 preferred D share, if you will never be able to sell any beyond the 1??
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.