Replies to post #33557 on Plandai Biotechnology Inc (PLPL)

[Due Diligence Virtuoso]

According the the latest filings Tad controls the Class A preferred which is just voting rights but could convert to shares if they dissolved that share class. That would equate to 60M shares.. (Series A Preferred Shares are convertible to six hundred shares of the Company’s common stock for each one share of preferred stock)

So hypothetically speaking a new company would just gain Voting rights and have no commons shares if the share structure stayed as it once was. They would have about 3B shares left in the AS for future financing or acquisitions.. Just not a viable option IMO. This is why the prior company's needed to a RS to even get a deal done.

This AS and OS adjustment we just seen on PLPL, tells me they are doing the opposite of a Reverse Split and now using the current share structure to complete the deal. It is the most logical theory out there based on the current data we have.