Replies to post #129439 on Drone Services USA Inc. (DSUS)

[justicewillbesoon]

ONCE AND FOR ALL -IF THE PRICE OF PVEC EXCEEDS .20CENTS [.21 TO 99 CENTS] AT THE TIME TO TURN THEM IN THAN YOU DO NOT HAVE TO TAKE ONLY .20 CENTS BUT YOU CAN TAKE STOCK INSTEAD AND THAN SELL THE SHARES FOR MUCH MORE THAN .20 CENTS. EVERY ONE LOOKS FOR THE WORST AND REFUSES TO EXCEPT WHATS GREAT FOR THEM. IF THE SHARES ARE UNDER .20 CENTS THAN YOU WILL STILL GET ONLY .20CENTS

[SweepsMcGee]

My interpretation/opinion (which any response to this post should be considered...an opinion):

You choose which one of these statements to act on at the time of submission:

"can be redeemed at 0.20 USD"

...or...

"converted for one (1) share of common stock if the price per share during the time these shares are eligible for submission exceeds 0.20 USD."

Ultimately, Mr. Saha (PVEI counsel) is the person who can comment on the correct interpretation. I'm also assuming that the conversion period won't start until October, as that would be at least six months from the date cited in the letter which accompanies the certificate (with the date having been adjusted forward to take into account FINRA's involvement).

[Cassandra]

... which can be redeemed at 0.20 USD or converted for one (1) share of common stock IF the price per share during the time these shares are eligible for submission exceeds 0.20 USD

I first interpreted this statement as you apparently did -- that the Series C shares are only redeemable if the share price of PVEC stock is over $.20. It's strange that the phrase "during the time these shares are eligible for submission" instead of "on the date of redemption" is used.

After re-reading it multiple times, I see that it may simply be very awkwardly worded and ambiguous. It may mean to say the shares can be redeemed at (for?) $.20 and that if the share price is over $.20 (at the time of redemption?) they can be converted into one share of common stock. If this is what PVEC means, it would have been clearer to break it into two sentences.

On the other hand, the literal reading of the statement could be correct and the shares may not be redeemable unless the PVEC share price is over $.20. Again, use of the phrase "during the time these shares are eligible for submission" instead of "on the date of the redemption" is suspicious.

I suggest that people contact the company or Milan Saha for clarification as to what is meant by the statement you questioned as well as to clarify if the shares are still supposedly redeemable in cash.

It's very concerning that the company does not include redemption instructions with these certificates. If they are serious about redeeming them, why are there no instructions?

Unfortunately, I still believe that holders of the Series C preferred shares will eventually find them to be worthless.

[Hubbs12]

It is my understanding that you can redeem them for $0.20 per preferred share or the current share price, whichever is greater of the two.

Cheers.