Replies to post #681 on Immediatek, Inc. (fka IMKI)

[Stock]

There are A Preferred and B Preferred shares. And there are common shares. Three classes.

The A preferred shares have ALWAYS been convertible to common, if a triggering event is reached, as defined in their filings. Same for the B shares.

Essentially, if good things start happening, Cuban can convert preferred into common and either sell to accredited investors, or to the highest bidder.

The common shares (i.e. the public float) are not immediately impacted by this, as neither the A or B are being converted right now.

I'm not great at describing this, but this is my admittedly weak understanding.




PT Barnum ran a circus, too. But he didn't let the clowns run the show.
He surely didn't let the clowns tame the lions.
On second thought, that would have been a more interesting circus.