eelf; BINGO. This is all that any shorter needs to know...
The super-toxic copi "Preferreds" will ALWAYS :
"retain about 87% of the CONTROL AND EQUITY of the company"
We are not sure if it's 87%, but it easily could be.
[swvc has 1 pot of Preffy's that are always 80% of all shares,
voted for by the CEO, only. Guess who owns them, all.]
If it's 87% for the copi "Preferreds", that's almost 7/8 .
Which means, every time 1 new common share starts floating,
the "Preferreds" get 7 more new shares, for free. Well,
not actually 'for free' , because OUTSIDE SHAREHOLDERS
PAY FOR EVERY ONE OF THEM, VIA MASSIVE DILUTION.
So, if copi has "Preferreds" that are
always 87% of all shares,
We will just call them 8x-Super-Toxic-"Preferreds" ,
and that could explain the sudden increase in the
'Authorized' , way up to 2 Billion, from 'only' 500 Million.
copi HAD TO DO IT, TO BARELY COVER THE 8X-SUPER-TOXIES.
Because, if outsiders own 250 Million floaters, then
the "Preferreds" must own 1,750 Million more, and the
2 Billion is all used up.
So, the 30 Million Brand New Options, announced yesterday,
actually represented an immediate dilution of 240 Million,
overnight, without telling anyone, or asking for a vote.
In fact, votes are never 'needed' , because
the "Preferreds" ALWAYS HAVE 87% OF ALL VOTES.
So, they can 'vote for' even more options, anytime
they feel like they need a raise, because of the
constant successes of copi, even as it keeps losing cash.
By the way, if copi is ever 'bought out',
the "Preferreds" get the first 87%, [after loans are paid-off]
and all of the commoners split up the tiny remaining 13%.
P.S.; Please provide a link to the Filing that shows the 87%.
[And we'll be back to shorting, 1 second after we verify it.]
[We like to do DD Before investing, unlike many, who just
believe PR's, as 'interpreted' + expanded on the internet.]
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