Replies to post #105162 on MultiCorp International Inc (MCIC)

[illuminati2012]

With the high conversion rate, he'd not raise the A/S by utilizing(converting) preferred.

Looks like it was important to get the deal done and keep it within the current A/S.

Nice that he took shareholders into consideration.

Maybe Sam would like some preferred too...

[spec_trader]

I caught this on a different stock.
When an insider uses his personal shares to help the company, they book the value of it as debt and they get to get paid cash quicker maybe even instantly, than if they converted the preferred to common and had to wait the 12 months restrictive period.

Instant cash.

I may be off on the exact way this works, but it's pretty darn close.