Don't forget. 80% of all SWVC shares + votes are ,,,
always owned by the only1 "Preferred" shareholder.
And, he [the CEO] can vote himself more,
anytime he votes for, and, maybe, yells fore.
And, no common SWVC shareholder gets to vote against,
On this decision, or proposal, or anything, ever.
And, his current 80% can't ever be diluted, because it also
floats, up, even as the SWVC outsider float increases.
Whether it be by old and/or new CD conversions,
and/or new-share printing. What a sweet 'deal'.
He could even convert just 1/4 of his "Preferreds" ,
and double the outstanding float, overnight, any night,
and still keep holding 60% of all shares + votes.
And, the next night, he could vote himself more "Preferreds",
and be right back up to 80%.
We wonder if he noticed this, or if he ever will.
[He may even find out, by reading this not-off-topic post.]
After all, he said that he + his lawyers did not notice
the toxic CDs that were 'hidden' in the originally,
not-quite-empty SWVC CD shell.
But, as the shell started opening, and filling with WiseBuys,
the old toxic CD pearl appeared, as if by magic.
[But, he forgot to tell anyone, until a common SWVC
shareholder noticed + publicly posted the fact.]
And then, he bought 3 more, brand new, toxic CD pearls.
[So far.] And, he may buy more, if he votes for. And, he
may already have, and forgot to mention it. And, there may
be more toxic CDs 'hidden' in future acquisitions, just like
the last one.
But, his creative "Preferreds" are way more Toxic, than any
CDs ever were, or could ever be. And, we just don't think
that it's just another hidden accident. And, we're not even
sure that it's totally legal. But, it sure is a nice
insurance policy, for him, and the shorters.
There are a few who think that
the "Preferreds" will never be converted.
But, they must, eventually.
Except, for 2 possibilities.
1 likely, and 1 not, as follows :
1] He gives them back to the SWVC Treasury, as a gift.
2] or, SWVC goes BK.
Which one is more likely? Hmm.
At this point, SWVC common shareholders think that they
own about $10,000,000 'worth' of SWVC 'shares' ,
and some even think that they own $250,000 'worth' .
We would suggest that the biggest outsider commoners consider
'investing' about $1,000 in a real, outside lawyer's opinion,
concerning the legality + toxicity of those "Preferreds" ,
as their own, personal, insurance policy.
Unless they plan to always totally trust the CEO, and his
accidentally, but severely + massively toxic "Preferreds" .
Or, unless they plan to sell all of their SWVC common shares,
and flip out of SWVC, before the "Preferreds" float out.
Does anyone really believe that the CEO used SWVC shareholder
cash, which is always in short supply, to have his lawyers
write up the rules for the "Preferreds", that only he owns,
but 'never plans to convert' ? Just like nobody ever tries
to sell the Brooklyn Bridge, or Florida swampland.
[Buy the way, the biggest buyer ever, of swampland in Florida,
was Walt Disney, and he can't sell it anymore. But, it could
be sold, as Disney World, for very much more.]
extra, Cheers, and GLTA
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