Replies to post #51677 on Solaris Power Cells Inc (fka SPCL)

[DCorleone]

IMO, this only Applies to the Preferred Shares which could be converted or can't be converted, depending on what type. Understand what usually happens on a true Reverse, but Vert using Reverse Split strategy on note as they want volume to Convert to recoup losses.


The Series A Preferred stock pays no dividend, is not convertible into Common Stock, and is redeemable at the option of the Company, for $10,000. The Series A Preferred Stock votes together with the Company’s common stock and each share of Series A Preferred Stock carries with it 2,000 votes on any matter voted on or consent to by the stockholders of Solaris.

[DJPele]

That is SPECIFICALLY talking about conversion shares of Preferred shares.

This has NOTHING TO DO WITH Common shares.

What has to do with common shares is the RS.

If the so called "commons" were to disappear post Merger, there would be no reason to enact a RS.