Replies to post #13981 on 141 Capital Inc (fka ONCP)

[jaykk]

Re: "the unconversion formula"
If I am using this formula correctly, for those still holding preferred shares, it doesn't seem to matter what the share price of ONCP is (.0003 up to any dollar amount)
10,000 preferred shares will always be worth $71.43 .
The only way to try to recover any losses , it seems, is to convert to common shares, hold them and hope that the price from that point on goes up astronomically.
Is this a correct use of the formula?

[endub]

mc, saw your response but still a bit confused...

again, from your posted formula...
B = The average closing bid price of the Common Stock for each of the five (5) consecutive trading days immediately prior to the date of conversion. (This is based on postmarked date the Common Shares were submitted for conversion.)

does the number of shares one gets for converting preferred C back to common depend on a)the postmarked "date" that they converted their common to preferred or b)the postmarked "date" that they convert preferred C to back to common.

if it is a), then the current share price doesn't matter when calculating how many common shares one should get for thier preferred C....if it is b) the current share price does matter.

thanks

[ChangeDirector]

Am I wrong, or was it the case that no one expected their converted shares to be adjusted and reduced for the reverse split?