issuing preferred stock that is convertible into common stock at about a 50% discount to market price AND offering a 6% dividend with the preferred stock is reserved mostly for scammy companies that can't raise funds through regularly priced private placements
and to top it off, CIIX is artificially high in price due to the massive paid stock promotion campaign
but hey, not surprised
and why is it not surprising?
because this is what scam companies do!
Things are good at CIIX
Despite what white knight stock justice warrior 236t568 thinks..
Investors are getting preferred shares with a discount to market and selling out the series...these shares are restricted and have a required holding period
Yes they are getting shares at a discount to market...but you dont throw money at something goin under with any discount offered...and then be forced to hold for 6 months to 2 years ..period
These funds are being used to grow the CBD Hemp Oil business...the financial services side is self sufficient and growing...just read the latest filings
236t568 conveniently leaves this part out....why ....we dont know....must be short