They sometimes do,but not always. Thing is where are any of those certain restrictions outlined or even mention in the legal Q1 financial? Gosh Wayne...wonder if any "investors" would want to know ALL the details? Usually the only milestone to convert in the OTC is time,six months/twelve months. Funny how this was filed on 4/15/22 yet that class of shares and the amount have yet to be authorized by the Nevada SOS.
Most times Preferred shares don't "convert" at all,they just remain that class of shares and have zero voting rights. They sell for less than the going pps but are immune to splits and they get first rights to sell over regular common shares. But...this is the OTC.
I've seen lots of crazy azzz conversion "rates" in my twelve years in the OTC but nothing compares to this one.
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