No question that HYPUR is the majority shareholder, and this is where the preferred shares become the issue - potentially this is exactly why they wanted the 100M vs 8.5M ratio. That said, this is also a red flag I believe, as the ratio is highly unusual - as you know, typically the number of common vs preferred would be reversed.
Of course we don't yet know the purpose for the number of preferred, as they haven't yet been issued - in other words: what exactly would they be utilized for? As you know, they could be issued for a variety of reasons, which of course includes growing the bottom line.
I still believe there's more to the holdup by FINRA than just a mere processing issue - something else behind the scenes is holding up the filing of the amended 8-K/A. I don't believe it should take (7) weeks to sort this out, and is it possible the delay of the 10-Q is also connected - is it possible that insiders have been buying back shares from the open market, which would have to be disclosed in the 10-Q, which would have a direct impact on the share structure post split?
Something to ponder.
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