Crash, how many times do people have to tell you the purpose of the series B preferred shares that Tom holds? Those shares do two things:
- They guarantee Tom majority voting rights (ensuring that the direction of the company remains under his control)
- They act as a "poison pill". Yes, Tom could theoretically convert them into several billion shares (whatever that number is that you're always spouting off), but he would NEVER do that under any kind of normal circumstances. If he were to convert them, it would be in the case of some sort of disaster (in which case, we have way bigger problems).
That's my conclusion from reading the filings. Can someone back me up on this?
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