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pitts77h

04/05/15 8:11 PM

#40722 RE: carsalesman #40714

Uhhh... except Jerry doesn't OWN the company.

there is nothing wrong with Jerry issuing preferred shares to himself. This protects his ownership interest.

He was a MINORITY holder, who, for no apparent reason and apparently without paying the other shareholder a dime, made himself the MAJORITY shareholder.

How exactly does that protect the other owners' interests?