.002 is definately the bottom because it is what series d prefered shares are worth without voting rights Davenport is in control with over 58% of voting rights who is davenport?
Those Series Preferred shares will convert in December 31, 2021. Way down the road. Also the conversion rate is only 2.63. Very reasonable IMHO. The amount of shares issued was very reasonable.
No impact to O/S today and for several years.
In all honesty a sweet deal for 4Less, MCGI, and Shareholders IMHO!!
The anticipation out there by all involved: shareholders, 4Less folks that were adding shares, and MCGI is incredible growth!!!
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