Replies to post #111839 on Savvy Trades and Investments

[2morrowsGains]

STCN...Thank you littlefish. What is it about the share structure that sends up a red flag? No need for a quick response, it's just that the stock has very little volume, so just trying to be cautious and appreciate anyone's opinion, especially anything that looks to be negative.

Re: Share structure...There is a very heavy fully diluted insider ownership. I posted this a while back from info posted in STCN's Q1 10Q (I veiwed this as positive, but like I said, I keep thinking I'm missing something)...

From the 10 Q (page 26)...
"On May 1, 2023, the Company and Steel Holdings executed a series of agreements in which the Steel Partners Group agreed to transfer certain marketable securities held by the Steel Partners Group to Steel Connect in exchange for 3.5 million shares of Series E Convertible Preferred Stock of Steel Connect"
"Following approval of the Nasdaq Proposal by the Steel Connect stockholders (the “Stockholder Approval”), the Series E Convertible Preferred Stock became convertible into an aggregate of 19.8 million shares of the Common Stock, and votes together with the Common Stock and participates in any dividends paid on the Common Stock, in each case on an as-converted basis."

From the 10Q (page 37)...
"Any holder of the Series E Convertible Preferred Stock (“Holder”), may, at its option, convert all or any shares of Series E Convertible Preferred Stock held by such Holder into Common Stock based on a conversion price of $10.27 (the “Conversion Price”) per share".
STCN&cdn=cdda6eab612d1b4782f68846ceb63c97&companyName=Steel+Connect+Inc.&formType=10-Q&formDescription=General+form+for+quarterly+reports+under+Section+13+or+15%28d%29&dateFiled=2023-12-14" rel="nofollow noopener noreferrer ugc" target="_blank">https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&ref=317925943&type=HTML&symbol=STCN&cdn=cdda6eab612d1b4782f68846ceb63c97&companyName=Steel+Connect+Inc.&formType=10-Q&formDescription=General+form+for+quarterly+reports+under+Section+13+or+15%28d%29&dateFiled=2023-12-14