“once the merger is completed” — I love this . Dollar coming sooner than we think !
Either way I got placed my orders between .0601 to .0901 , 9 buy order each of 100K . Hopefully will get all 900K shares @9:30 .. already have 100K shares..
Want to hold 1 million shares and will sell them 2 dollars per share on merger news !
I'm a big opponent of the convertible B-shares. (Sharp used this with Brian for Humble and totally destroyed that ticker with those).
And I'm also aware that converible preferred B's can be transferred and any restrictions do not follow the transferee (so basically they would sell them to sopisticated investors who could immediately convert).
Now this is a new wrinkle that I've never seen. 20 years restriction on conversion and the restriction passes on to any transferee. I have yet to encounter this one on the pink sheets.
I'd be interested if anyone on here has seen this and what loop holes exist. This is too good to be true. Also curious on the conversion rate, I think I saw 30 to 1 somewhere.
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