Replies to post #54893 on Greater Cannabis Company Inc (GCAN)

[Truenorth2016]

I dont believe a R/S is going to happen and there are people on this board that imo knows it...that R/S language was designed to slow down momentum that was brewing to fast ahead of the merger.....this R/S benefits no one.....GCAN did not have a bloated out of control SS and I been trading these subs for years and rarely see a stock with this low SS do a R/S ...im sure it has happened but I cant think of any.....I am just going to play along and see where this goes but if a real R/S was going to happen this would be trading .0001 right now.....

[midas716]

🤣 There's a heck of a lot more in that 14c then the nonsense you posted. Why don't you post the rest? Like this gem, those Series B shares will be issued AFTER the split and will not be subject to the split and all will be issued to Asscan giving him full voting power and a conversion rate of 100,000 common for each Series B. What another sweet deal for Asscan on top of the 100m he took for .0001.

The Series B Preferred Shares
Following filing of the Series B amendment, the Series B Preferred Shares will be issued to Aitan Zacharin, our Chief Executive Officer and sole director in consideration of his waiving $20,000 in accrued but unpaid compensation due him from the Company. As more fully set forth below, the issuance of the Series B Preferred Shares will afford Mr. Zacharin voting control of the Company. In addition, as the Series B Preferred Shares will only be created after the implementation of the reverse stock split, the number of shares of common stock issuable upon conversion of the Series B Preferred Shares will not be subject to adjustment for the reverse stock split. However, the authorization and issuance of the Series B Preferred Shares is not in any way related to any plans or intentions to enter into a merger, consolidation, acquisition or similar business transaction.

The Series B Preferred Shares have the following rights, features, privileges and limitations (in pertinent part):

Voting Rights. The Series B Preferred Shares vote together with shares of our common stock and our Series A Preferred Shares as a single class on all matters presented to a vote of holders of our capital stock, except as required by law. The Series B Preferred Shares entitle the holder thereof to 51.0% of the total voting power of the Company and to thereby control the Company’s business and affairs. In the event the Series B Preferred Shares are converted in part into shares of our common stock as set forth below or the holder transfers or seeks to transfer any of the Series B Preferred Shares to a third party, other than by the laws of descent and distribution, the super-voting rights described herein will terminate and the Series B Preferred Shares will vote on an “as converted basis” together with shares of our common stock and our Series A Preferred Shares as a single class on all matters presented to a vote of holders of our capital stock, except as required by law..

Dividends. The Series B Preferred Shares do not have dividend rights.

Liquidation, Dissolution, or Winding Up. Series B Preferred Shares will be entitled to a preference of $0.001 per share to shares of our common stock and Series B Preferred Shares in the event of a liquidation, dissolution or winding up of the Company.

Conversion Rate and Adjustments.

Conversion Rate. The Conversion Rate shall be 100,000 shares of common stock (as adjusted as provided for below) for each Series B Preferred Share.

Or how about this gem. Before Aitan gifted himself 100m the O/S was 1,191,888,436, now add in the 783,199,824, before Asscan's 100m, and you get 1,975,088,260. Did you know, but failed to post, that because of Asscan's 100m gift it put the outstanding over the A/S where the preferred shares were concerned and according to the 14c not one single share of the preferred shares could be converted? Making Aitan's 100m responsible for the R/S.

Conversion.

(a) Series A Preferred Shares are convertible at the option of their holder in whole or in part at any time except that they shall not be convertible at any time that there are not a sufficient number of authorized shares of common stock not reserved for other purposes so that all outstanding Series A Preferred Shares can be converted.

So much more I won't get into, like how they are not reducing the A/S and neither will you. 🤣 As I stated yesterday to TN, the only people benefitting from a 1 for 500 split, are the preferred holders and you ain't in that club either. Aitan is shyster. Plain and simple.