Replies to post #31042 on Plandai Biotechnology Inc (PLPL)

[bri123]

Nothing prevents that technically. But, we don't know the terms of any future reverse. It could be they RS the OS, AS, and preferred to common conversion ratio (maybe).

Also, really it makes no difference how many shares of preferred A exist, since they have 100% voting power no matter the number, unless otherwise specified in a filing. The last quarterly says- " At every meeting of stockholders of the Company, the Series A Preferred Stock shall be entitled to voting rights equal, in aggregate, to the total number of then issued and outstanding shares eligible to vote on any manner, plus one additional vote."

And (generally) the preferred A shares would not be converted to common shares, unless the new CEO were desperate for personal money, and they know the company is on it's way out.

[shinytrout]

"Convertible" Preferred shares split just like the common.