Got it thanks. Then IMHO he essentially straight up cashed in his chips (chips that would have tanked in value had he dumped em on the market) for better ones. Seeing as he couldnt or didnt get a half million hard cash for his shares (people would freak ifthe ceo moved all his shares like this) he pulled the switcheroo and essentially used the buying power of those shares to get MUCH better shares for no stated reason. Now, hes immediately getting 8% on the roughly half a million BUYING POWER 50k+ preffereds at $10 a share, so thats an additional $40k a year out of thin air. The preffereds also come with a MINIMUM guaranteed return of 25% if im reading it right too, payable in cash or shares. Im going to assume they will convert the buying power into even more common shares than he started with.....hmm im not sure the math works there for that to be possible. I need a friggen nap i dont eveN belong here yet LOL.
At least everyone can get a shot at the preffereds lol. Peeps just need to either sell their commons or invest even more money lol.
Im sure im being a bit melodramatic caused by my confusion. Ill check back later and im sure itll be spelt out for me through some longs string of posts.
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