Replies to post #2274 on GeneSYS ID Inc fka GNID

[StockMedic1]

If Cheeky is right, then we are ALL GOOD. If the friendly shareholders hold the preferred and won't convert, then its a brilliant plan - and wanting to raise legitimate money the right way, is a very good plan. Looks like the current debt holders join our ranks and that severely prevents dilution when they do convert. I couldn't care less what the preferred convert into, because I'm not a shorter or day trader. They started and supported this company for years, they deserve it. Since this started trading there have been no significant insider sales, and in the last 6 months, nothing, No 144's, no Form 4's showing less holdings, nothing. Just the opposite. More accumulations, taking debt off the books, friendly hands..........how can anyone not like this.

I get it now, and I like it. I think this is being responsible to all shareholders and puts the company in a position to attract real equity capital and non of this debt conversion death knell BS.

Now, all I care about is what are the listing requirements for NASDAQ. Hopefully thats were they want to take this. Does anyone know what they are.?

[Kgs68]

I've still not yet heard back from them on this issue. I'll update Sunday as I know more

The series B to me still remains a mystery. 2 parts;

When authorized? They must have been authorized recently (past few mths) as they are not disclosed in the June 30 financials nor the July 14c. I've requested these company articles.

Reverse split impacted? Are they subject to a proportionate adj like other convertible securities.

I still maintain they are not subject to a proportionate adj

My working theory is that these series b were recently authorized and assuming they are not subject to the proportionate adj, as well as along with the reverse split, the insider share of the company for those listed in yesterday's 14c share of the company increased from 82% to 99.9%. All at the expense of regular non insider share.