Replies to post #127450 on Sylios Corp. (fka UNGS)

[robtewms]

Boy, is he going to be surprised at how many shares he retains while everybody else is wiped out in the dilution to the toxics.

You are correct sir. Remember, there is an elaborate formula that Wayne paid dearly to have cooked up. Here is that formula:
Each individual share of Series D Preferred Stock shall be convertible into the number of shares of Common Stock equal to: [5000] divided by: [.80 times the lowest closing price of the Company’s common stock for the immediate five-day period prior to the receipt of the Notice of Conversion remitted to the Company by the Series D Preferred stock holder]
This means that Wayne can say he is owed all 500,000 Series D Preferreds that were created to wipe out $2.5B in UNGS debt. But, Wayne's real problem is not doing an R/S because the share structure reduces while the pps increases for a net "no change". Wayne may have figured this out already: It doesn't matter how many Series D Preferreds he grants himself, UNGS isn't trading. So, he is trapped just like the rest of us. Not only does Wayne need more shares, he needs to gen up some campaign to get more suckers than us suckers to buy those new shares that consistently trade in order to make money from Series D Preferreds.