Replies to post #94691 on Blum Holdings Inc (BLMH)

[Magnum7419]

They gave them stock...... not future revenue !!!!

[Dickybad]

I dont think you understand, the locals were needed to get the licences and then they gave up their share of the future revenues. Not all, but the majority.

[sfe306]

I can't agree with you there. This from page 16 S-1:

"Our officers and directors have significant control over stockholder matters and the minority stockholders will have little or no control over our affairs.

Our officers and directors currently own approximately 30.9% of our outstanding Common Stock, and through the ownership of preferred stock, have approximately 88.6% of stockholder voting power, and thus significant control over stockholder matters, such as election of directors, amendments to the Articles of Incorporation, and approval of significant corporate transactions. As a result, the Company’s minority stockholders will have little or no control over its affairs."

One share of Preferred stock equal 5.4 shares of common stock to sell, but one share of preferred stock equals 100 shares of voting stock. I think it comes to 1,450,000,000 voting shares. Yes 1.45 billion shares.



Page F-15 latest quarterly report:

"11. CAPITAL STOCK

Preferred Stock

The Company has authorized 25 million shares of preferred stock with $0.001 par value, of which there were 100 shares of Series A Convertible Preferred Stock outstanding as of September 30, 2014. Series A Convertible Preferred Stock is convertible on a one-for-one basis into common stock and has all of the voting rights that the holders of our common stock has.

On February 26, 2012, pursuant the Agreement and Plan of Merger, the Company issued an aggregate of 100 shares of Series A Preferred Stock to Derek Peterson and Amy Almsteier, both of whom are officers and directors of the Company.

There were 14,750,000 shares of Series B Convertible Preferred Stock outstanding as of September 30, 2014. The Series B Convertible Preferred shares will vote with the common stock of the Company, be equal to 100 votes of common stock and be convertible into shares of common stock of the Company and a 1-for-5.384325537."