Replies to post #3256 on Nano Magic Inc. (NMGX)

[callmeacab]

Just found the information I was looking for in Note 6 of the last 10-Q:

Class B Common Stock

Conversion Rights. Shares of Class B common stock can be converted, one-for-one, into shares of Class A common stock at any time at the option of the holder. Shares of Class B common stock will automatically be converted into shares of Class A common stock if the shares of Class B common stock are not owned by the Company’s chief executive officer, his spouse, or their descendants and their spouses, or by entities or trusts wholly-owned by them.

Voting Rights Holders of PEN Class B common stock are entitled to 100 votes per share in the election of directors and other matters submitted to a vote of the stockholders.

So Class B shares have 100 times the voting right of each Class A share, which gives Scott Rickert complete voting control.