There has been some speculation regarding yesterday's 8-k filing. I emailed Gerald asking him to clarify its purpose. He responded within 2 minutes. Impressive.
We are so fortunate to have a CEO who cares about shareholder concerns and is open to answering shareholder questions when appropriate.
Gerald's reply: Quote: It is a strengthened position for the Company. The Series D had been classified as debt by our auditors due to the redemption provisions. With them removed, it will be classified as equity, further enhancing our shareholder's equity as we prepare for the up-list.
#1 was my thought that it would prevent manipulation of share price at an inopportune time such as an up listing or JV. I believe # 2 was covered in the change of the company into a holding company.
You have a good point. I've met Dominion Capital earlier, my experience with them haven't been positiv. It's a shark. Perhaps they have changed their attidute.