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doughboy2

04/28/14 1:42 PM

#304775 RE: pawpawsir #304774

Lmao. Look at the filings for qasp and see what the A's are all about.

They convert exponentially.

Including voting rights.

Commoners have no say in qasp.
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Manti

04/28/14 1:49 PM

#304779 RE: pawpawsir #304774

From the often amended and restated articles of incorporation:

Series A Preferred Stock. The number of authorized shares constituting the series of shares of
Series A preferred stock of the corporation with $0.01 value per share (the “Series A Preferred
Shares”) shall be 1,000,000 pursuant to the Certificate of Designation. Each Series A Preferred
Share shall automatically be converted into the number of shares of common stock of the
corporation equal to the result of: (i) the number of shares of common stock of the corporation
the “Common Shares”) issued and outstanding at the time of such conversion multiplied by 6;
divided by (ii) the total number of Series A Preferred Shares issued and outstanding at the time
of such conversion (the “Conversion Ratio”) at any time at the option of the holders of a majority
of the issued and outstanding Series A Preferred Shares upon written notice of the conversion
and properly endorsed. [Conversion Ratio Formula: # of Common Shares issued and outstanding
x 6 ÷ # of Series A Preferred Shares issued and outstanding = Conversion Ratio per each Series
A Preferred Share (i.e., 90,000,000 x 6 ÷ 2092 = 258,126 Conversion Ratio per each Series A
Preferred Share)]. On or before the date of conversion, each holder of Series A Preferred Shares
shall surrender his or its certificate or certificates for all such shares to the corporation at the
place designated in such notice, and shall thereafter receive certificates for the number of
Common Shares to which such holder is entitled pursuant to this Section. On the date of
conversion, all rights with respect to the Series A Preferred Shares so converted will terminate,
except only the rights of the holders thereof, upon surrender of their certificate or certificates
therefore, to receive certificates for the number of Common Shares into which such Series A
Preferred Shares has been converted. If so required by the corporation, certificates surrendered
for conversion shall be endorsed or accompanied by written instrument or instruments of
transfer, in form satisfactory to the corporation, duly executed by the registered holder or by his
attorneys duly authorized in writing. All certificates evidencing Series A Preferred Shares which
are required to be surrendered for conversion in accordance with the provisions hereof shall,
from and after the date such certificates are so required to be surrendered, be deemed to have
been retire and cancelled and the Series A Preferred Shares represented thereby converted into
Common Shares for all purposes, notwithstanding the failure of the holder or holders thereof to
surrender such certificates on or prior to such date. As soon as practicable after the date of such
mandatory conversion and the surrender of the certificate or certificates for Series A Preferred
Shares as aforesaid, the corporation shall cause to be issued and delivered to such holder, or on
his or its written order, a certificate or certificates for the number of full Common Shares
issuable on such conversion in accordance with the provisions hereof. In the event, Series A
Holder elects to exchange its Series A Preferred Shares to the Corporation, then the Corporation
shall pay for each Series A Preferred stock equal to the Conversion Ratio of its Series A
Preferred Shares (the “Exchange Rate”). The corporation shall not amend, alter or repeal the
preferences, special rights or other powers of the Series A Preferred Shares so as to affect
adversely the Series A Preferred Shares, without the written consent or affirmative vote of the
holders of at least a majority of the then outstanding aggregate number of shares of such
adversely affected Series A Preferred Shares given in writing or by vote at a meeting, consenting
or voting (as the case may be) separately as a class. Prior to conversion, each Series A Preferred
Share shall automatically be granted the right to vote the number of shares of common stock of
the corporation equal to the result of: (i) the number of shares of Common Shares of the
corporation issued and outstanding at the time of such vote multiplied by 6; divided by (ii) the
total number of Series A Preferred Shares issued and outstanding at the time of such vote (the
“Voting Ratio”) at any time at the option of the holders of the issued and outstanding Series A
Preferred Shares. [Voting Ratio Formula: # of Common Shares issued and outstanding x 6 ÷ # of
Series A Preferred Shares issued and outstanding = Voting Rights per each Series A Preferred
Share (i.e., 90,000,000 x 6 ÷ 2092 = 258,126 Voting Rights per each Series A Preferred Share)].
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penniesbgone

04/28/14 2:17 PM

#304810 RE: pawpawsir #304774

Better look again, Those A's can be made into almost any amount. GAZILLIONS I think I read.

Good lock with that approach. Besides, what is the float now? Is it over 700 million?