“Not if the authorised shares is below your doomsday scenario “
The authorized can be raised at will by the control block of preferred stock...it presents no limitation to them converting since they can raise it whenever they want.
It is a limit with NO PRACTICAL EFFECT.
One has to look no further than what BVTK did to raise its AS to see how Cellucci and his Padawan O’Leary plan to operate.
The conversion terms of those Pref D shares are hilariously ridiculous....
Would you consider 4 separate conversions of prefs at 20,000 each a doomsday scenario?
I don’t think that would be an unreasonable scenario at all.
What would the OS be after those conversions?
OVER 9 BILLION SHARES.
And the remaining 8,235 Pref D shares would have a conversion potential of 6.3 MILLION shares per Pref.
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