Bubae is either intentionally misleading or still doesn’t understand the basic distinctions here. There are no preferred shares being dumped on the market, period. The performance bonus notes you keep referencing aren’t preferred shares at all. They’re unsecured convertible notes that were originally tied to the Reg A offering. That offering wasn’t canceled, it was amended. And that amendment specifically removed the notes you keep harping on. The change wasn’t to sneak conversions through the back door, it was to limit dilution and restructure the capital raise in a more shareholder-friendly way. Once those notes were pulled from the offering, the mechanics that allowed for discounted conversion disappeared with them. Vesting period or not, those notes don’t convert under current conditions. That’s spelled out clearly in the filings.
Now you’re trying to shift the narrative to preferred equity being dumped, but again, you’re misrepresenting what exists. The only preferred shares issued were Series F, and they went to Mexedia as part of the AmeriCrew acquisition. These aren’t retail securities. They’re not trading on the open market. They’re not available for public conversion. They're structured purely for governance, with strict limitations around conversion rights. Their purpose is to ensure continuity and stability during integration, not to dump shares or manipulate float. Any claim to the contrary is either dishonest or uninformed.
You also keep dragging out the Q1 net loss like it somehow overrides what’s happening right now. But Q2 has already begun to show the shift: losses shrinking, revenue climbing, and Telvantis executing exactly what they said they would. This isn’t guesswork, it’s already unfolding. And regarding Mexedia, yes, they posted a net loss in 2023 even while pulling in $349 million in revenue. But what you keep ignoring is that they paid down debt, modernized their tech stack, and cleared the way for stronger margins in 2024 and beyond. That’s not failure, that’s how you reset and scale. Now that same platform is being brought into RDAR.
The filings don’t support your narrative. But every time you post, I get the opportunity to walk people through the reality, and every time, the upside becomes more obvious.
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