Replies to post #37458 on Carnegie Development Inc. (CDJM)

[stockfan100]

This is great! No Series I shareholder can sell any shares before June 31, 2021.
And, the selling price cannot be less than $4!


"Series I - [1] Designation: A series of preferred stock is hereby designated as Series I Cumulative Convertible Preferred Stock. [2] Par value is $0.001 per share; [3] Authorized to issue 100,000 shares; [3] Liquidation Preference: The holders of the Series I Cumulative Convertible Preferred Stock has the liquidation preference over the Junior Securities. [4] Dividends: The holders of the Series I Cumulative Convertible Preferred Stock shall be entitled to receive @ 7% per annum on the “Liquidation Value” as quarterly cumulative dividends in preference to and with priority over dividends upon all “Junior Securities” [5] Number: The number of shares is fixed at 1,000. As on the reporting date, 1,000 shares are authorized, issued and outstanding. [6] Conversion: The Series I Cumulative Convertible Preferred Stock is convertible into shares of common stock at the conversion price and at the option of the holders, either in whole or in part commencing the first business day after 30th June 2021. [7] Conversion Price: The amount obtained by multiplying (i) 0.9 by (ii) the simple average of the daily closing price of the common stock for the 20 business days ending on the last business day of the calendar week immediately preceding the date of conversion, provided however the conversion price shall not be less than $4 (i.e. 250 common shared per $1,000 Liquidation Value) [8] Voting Rights: The Series I Cumulative Convertible Preferred Stock, collectively, are entitled to limited voting rights on select issues. [9] Liquidation value of the Series I Cumulative Convertible Preferred Stock is $1,000 per share. [10] There is currently 5 shareholders of record of the company’s Series I Cumulative Convertible Preferred Stock [11] The Series I Cumulative Convertible Preferred Stock can be redeemed at the option of the Issuer [12] On September 30, 2020 the Company issued 21,786 shares."

[stockfan100]

Great location for the real estate development by D4AVEG, LLC!

"Winter Haven is home to one of the most high-tech medical centers in Florida. As part of the BayCare Health System, Winter Haven is connected to a leading community-based health system, outpatient facilities and more than 200 access points conveniently located throughout Tampa Bay."

"Winter Haven shines as an authentic gem in the heart of Florida’s Super Region—the 9th-largest regional economy in the United States. Fueled by our unparalleled transportation and technology connectivity, diverse, well-prepared workforce and affordable lakeside lifestyle, Winter Haven has emerged as a choice destination for business and pleasure with enormous potential for growth."

http://www.whedc.com/

D4AVEG, LLC is developing 280 housing units consisting of 238,968 square feet on 21.68 acres located in Winter Haven, Polk County, Florida. The development budget is $40,770,000 as a non-HUD, multifamily project.