THIS IS REALLY FUNNY! LET'S BREAK IT DOWN FOR THE GROUP....
WHAT YOU ARE SAYING IS JERRY OWNS THE EQUIVALENT OF BILLIONS OF SHARES FROM THE PREFERRED SERIES A,B,C & D SHARES WHICH CAN BE CONVERTED @ 100 TO 1 AT ANY TIME......
BUT INSTEAD.....HE IS BUYING SHARES BACK AT THE OPEN MARKET RATE OF .05+
HE SUPPOSEDLY SIGNED AN LOI TO DUMP EVERYTHING HE HAD AND LEAVE, BUT YOU ARE SAYING HE WANTS .05 SHARES NOW INSTEAD AND IS BUYING THEM EVERY CHANCE HE CAN GET.
HE DUMPED 25 MILLION FREE SHARES @ .02 FOR A $500,000 PROFIT, BUT NOW WANTS TO PAY $1.25 MILLION FOR THOSE SAME SHARES AND INCUR A LOSS OF $750,000
SO INSTEAD OF RETAINING BILLIONS OF FREE SHARES THAT COST HIM ABSOLUTELY NOTHING......HIS BUSINESS PLAN IS TO BUY SHARES @ .05+ AND THIS WILL HELP THE PPS SOMEHOW?
THIS EXPLAINS A LOT LMFAO. NO WONDER RMHB HAS A 700 MILLION SHARE O/S AND $20 MILLION IN DEBT.
Series A and B Preferred Stock:
On July 7, 2013, the Company amended its Articles of Incorporation to create Preferred A and Preferred B stock. The Company authorized 10,000,000 shares of
Preferred A and 2,000,000 shares of Preferred B stock.
On August 1, 2014, the Company amended its Articles of Incorporation to reduce the Preferred A authorized shares from 10,000,000 to 1,000,000 shares. The
same Amendment increased the Preferred B shares authorized from 2,000,000 to 9,000,000 shares authorized.
As of June 30, 2016 and 2015, the Company has outstanding 1,000,000 shares of Preferred A shares, which were previously issued to the Company’s chairman in
connection with his employment agreement. The fair value of the shares was recorded as a prepaid expense and is being amortized over the life of the agreement.
Series C Preferred Stock
The Company amended its Articles of Incorporation as of November 13, 2015 to create a Series C Preferred shares, which are 12% interest bearing, cumulative,
exchangeable, non-voting, convertible preferred stock of the Company. Each Series C Preferred share can be converted to 50 shares of common stock.
On November 16, 2015, the holder of a convertible note aggregating $1,107,607 of principal and accrued interest, agreed to a dollar for dollar exchange for same
number of Preferred C shares.
Series D Preferred Stock
The Company amended its Articles of Incorporation as of March 21, 2016 to create a Series D Preferred shares, which are non-voting, none-interest bearing
convertible preferred stock of the Company. Each Series C preferred share can be converted to 100 shares of common stock. As of June 30, 2016, there are no
Series D preferred shares outstanding.
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