Preferred shares held by the CEO that are convertible to common are NOT the same as toxic loan convertible shares tied to the share price like crap companies like DBMM did!
The preferred shares have been held by the CEO since the inception of the company. For many years they were not specified whether they could be converted to common or not. Years later they were identified as not convertible to common. In the fiscal 2021 annual report they were identified as convertible to common and not a single share has been converted.
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