Yes, I suspect that language has caused the decline. James in a discord said "Shareholder value has always and will always be our priority. Majority of Nick and my stock will remain as convertible preferred in SGN as well."
DRCR gets 19.99% of common in SGN. The rest are convertible preferred. We know that they will convert to gain control of SGN. My guess is that they will just convert some and the rest will remain as preferred. I think they will address this as I do believe that the fully diluted language has caused the decline.
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