Incorrect! The holders of the Preferred A hold the majority voting rights.
The Holder of shares of Series A Preferred Stock shall have no
rights to convert such shares into shares of common stock.
Each share of Series A Preferred Stock shall entitle the Holder to a number of votes equal to
the product of:
(a) the sum of all outstanding shares of common stock, plus the sum
of the number of votes of all other outstanding shares of stock,
including any other series of preferred stock that may be
outstanding, plus the sum of the votes of all other financial
instruments which may be entitled to vote on any such matter,
times
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