Replies to post #165047 on Andiamo Corp. (ANDI)

[TenKay]

If we are going to quote the 2017 Annual Report ...let’s look at the whole paragraph and not just the sentence selected in that post...but let’s also look at what I bold below.

“(a) Each share of Series B Preferred Stock may be convertible, at any time by the respective holder, into the number of shares of the Corporation's common stock, par value $0.00001 per share (the "Common Stock"), equal to the price of the Series B Preferred Stock as stated in 2.6 of this Certificate of Designations, divided by one hundred times the par value of the Common Stock, subject to adjustment as may be determined by the Board of Directors from time to time (the "Conversion Rate").”

Now I have not seen the Nevada Designation...perhaps somebody can produce it given the company never included them in the Wyoming filings.

But if “2.6” in the State filed designation has a specific number in it then all they are saying is they may decide to change by Board Vote and not a shareholder vote.

That still requires an amendment to the state filing to update “2.6”.

[buccaneer1961]

still must file with sos

[trader59]

Barn door was open for at least 7 weeks from their end of January financial report. Free conversions for the whole period.

Then there's this from your link:

(c) The Corporation covenants that, within 30 days of receipt of a conversion notice from any holder of shares of Series B Preferred Stock wherein which such conversion would create more shares of Common Stock than are authorized, the Corporation will increase the authorized number of shares of Common Stock sufficient to satisfy such holder of shares of Series B submitting such conversion notice.

So if one of their conversions causes the A/S to go above 6 billion, they have 30 days to correct themselves . . . wanna take bets on if that clock is ticking?