These guys have repeatedly punished their equity with things like:
- A 100:1 reverse where common equity was the only class that was affected.
- Issuing voting preferreds convertible into 1.25 billion common shares, effectively annihilating the former outstanding equity.
- Issued an unknown number of 10/15¢ warrants available only to "emloyees" (ahem) which made absolutely no financial sense pre-split, but were major cashout for their holders after the split. Logic infers that any "employees" who purchased a warrant had prior knowledge an R/S was on the way.
Now they are giving as much as 95% of what was supposedly JBZY's equity to a Bermuda based shell?
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