Replies to post #25447 on Aventura Equities Inc (AVNE)

[Nebulae]

See lifegear? I can learn!!

:)



-Neb

[maani]

BOard UPDATE
one thing is for sure..Preferred A shares increased by 150 million...We all saw the mentioned share structure in 14C; share structure one which is in the IBOx now...we also know Frank had/has super majority votes..67=90 percent..since each preferred share has 1 vote...so frank coverted his commons shares holdings into preferred A shares because Form 3 now clearly shows his common holdings to be mere 41 from which there is no way he could have got the super majority...BUT check this out...From articles of incorporation that each preferred is convertable into 20 shares....so 150 million * 20 = 3 billion which he has converted..O/S =
3,620,241,722 - 3 billioin = 620,241,722
buyback of 360 million and he has 90% voting power....math works here
OR
IT's the other way around..that he he had 200 million preferred shares and converted 150 millions shares..in any circumstance it's now confirmed he owns at least 3 billions shares...and float and or may be O/S is below 620,241,722