You are right about them not giving up the preferred shares. When you read the forms it looks like they have no intentions of registering those shares. The shares are going to come from the 5% dividend that AG gets for holding preferred shares. AG is going to get $50,000 worth of CANX common shares every quarter. This is why Gwyther said that they will have a share limit on who gets a dividend. I’m thinking that the minimum will be at least 20M shares, but could be considerably higher. I picked 20M because it’s equal to the smallest holder of class c shares.
However they do it I assume that they will work it out to a number that only insiders will benefit from. Anyone that decided to buy enough retail shares to get the dividend will be crushed and eventually whatever CANX stock they own will be worthless as well.
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