Here is the math you need to clear up for me. There are 40 million B shares and "Billionaire Bob" is surely going to want those because he is not going to put himself in a position to be diluted. There will have to be a Reverse Split and the B shares do not adjust in one
So say pre-split there was only 500mil common shares and the 40 mil B preferred shares. In a 20 for 1 reverse split the 500 mil common are reduced to 50 million and the 40 mil B still convert to 212 Million Common. So the act of the split itself is tremendously dilutive. Common share holders go from owning 70% of the fully diluted shares to only 19% of the fully diluted shares! So the act of a RS itself is that dilutive without adding 1 asset or $ in revenue.
That is just the affect of the split before you even consider the dilution for the equity given to your "Billionaire Bob" So Now add on the many millions of shares Bob is going to end up with post split and shareholders will be lucky to end up with 5-10% of the fully diluted shares.
So my point is when the common shareholders ownership is reduced from 70% to 5 or 10% they lose badly and when the insiders go from owning 30% to 90-95% they win and win big!
So I don't know what numbers you are talking about but they will have to pretty impressive to make up for that kind of dilution!
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