This is absolutely correct or another way of saying it is for those that want to keep it simple the amount of money that most of us paid for our shares will become a royalty per share
LOL, 50MM cans is years away, they are just now making 200,000 cans, how much money does 200,000 cans equal? They did a good thing by lowering the license fee to 3%!!! But then to give a dividend at this point in the game is ridiculous and for only 1 reason, to entice buying of the stock, every single penny should be going back into the company for advertising and/or new product development. They only have non dilutive financing in place for purchase orders, they still need lots of money for advertising and R&D for new products. Also there is a lot of dilution coming next year as the insiders will have their shares freed up. Let's first see them get the dry can done, that's the most important part of this equation, the product needs to be right next to all the other pancake mixes, not by itself where people aren't looking for pancake mixes.
(a) The Series A Preferred Stock has voting rights equal to 100 votes for each 1 share of owned.
(b) The Series B Preferred converts into Common Stock at a ratio of 1:1,000. However, the Series B may not be converted for a period of 12 months.
(c) Nate Steck is entitled to 50,250,000 shares of Common Stock upon the conversion of his Series B Preferred
(d) Marc Kassoff is entitled to 50,250,000 shares of Common Stock upon the conversion of his Series B Preferred
(e) Tim Denton is entitled to 15,000,000 shares of Common Stock upon the conversion of his Series B Preferred
(f) Jeremy Kaplan is entitled to 15,000,000 shares of Common Stock upon the conversion of his Series B Preferred
(g) The officers and directors have the right to receive 130,500,000 shares of Common Stock upon the conversion of the Series B Preferred.
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