Taylor Orion, I am more than willing to have a civil discussion as it is an important distinction to attempt to clarify IMHO.
In order to do that, one has to understand the difference between price-based anti-dilution adjustments and stock-based anti-dilution protection. Both of which were addressed in the filing/exhibits.
Appreciate that you provided your rationale in using Section 7 of exhibit 3.1. However, this section pertains to stock based anti-dilution protection-- the nuance of referring to the price adjustment required is being incorrectly applied...
... if the company chooses to issue shares or pay cash to common shareholders (under the circumstances described in the section), then those that hold the preferreds are entitled to that same distribution. That would require a price adjustment based on stock anti-dilution protection.
There is no price-based anti dilution adjustment-- period. And a retail investor should take comfort in that fact (think toxic financiers "floor-less convertibles" or DRIO's last stock sale that had an extremely bad make whole provision)...
... however, DRIO now has roughly 45 million shares available to issue.
Duly noting that if they do issue shares, in some cases, that distribution needs to be applied to the underlying common shares of the preferred shares...