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Wednesday, October 16, 2013 9:14:03 PM
Here is the Conversion
Last time 2 Shares converted into 100m shares
Item 5: The Par or Stated Value of the Security
The Common Stock is $0.001 par value and the Preferred Stock is $0.001 par value. There is one class of Preferred Stock issued and outstanding designated as Series A Convertible Preferred Stock (“Series A Preferred”) consisting of 30,000,000 shares. Each share of Series A Preferred has voting rights equal to 66.6% of the number of shares of Common Stock, plus the number of shares of all other class of capital stock, issued and outstanding at the time of any vote of the shareholders, divided by the number of shares of Series A Preferred issued and outstanding at the time of the shareholder vote.
Each share of Series A Preferred is convertible, at the option of the holder, into shares of Common Stock equal to 66% of the total number of shares of Common Stock, plus the total number of shares of all other class of capital stock, which are issued and outstanding at the time of conversion, divided by the total number of shares of Series A Preferred issued and outstanding at the time of conversion. The Class A Preferred do not have any dividend or liquidation preference over the Common Stock.
When they converted 2 shares prior
750,000,000 (approximately) X .666 + 11 / 11 = 45,409,092 common shares
that is approximately how many shares the 1st Series A preferred share converted into
795,409,092 X .666 + 10 / 10 = 52,974,246 common shares
that is approximately how many shares the 2nd Series A preferred share converted into
So the O/S grew by about 100,000,000 more shares because of the conversion of those 2 Series A preferred shares
(Conversion figured By someone Far smarter than Me ;)
New
http://www.otcmarkets.com/financialReportViewer?symbol=KATX&id=92606
Old
http://www.otcmarkets.com/financialReportViewer?symbol=KATX&id=92606
Plus Series A
Now Considered Class A
Old
Series A Preferred outstanding: 11
Now
Class A Preferred outstanding: 9
(Gotta Love Kennay's use of 666 Lozzz)
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