Replies to post #25471 on Redwood Group International (RDWD)

[MinnieM]

aml10021... The preferred D shares have voting rights, but, not conversion rights. Following is the relevant quote from the filing:

http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=28884

Shares outstanding.
As of December 31, 2009:

Common stock – 4,900,000,000 shares authorized and 2,075,318,768 shares issued and outstanding

Series B Preferred Stock - The Company has 100,000,000 shares of preferred stock authorized, of which 15,000,000 shares are designated as Series B Preferred Stock, of which 12,000,000 shares are issued and outstanding. The Series B Preferred Stock does not have voting rights and can be converted into shares of common stock on a 1:1 basis. In lieu of voting rights, the Series B Preferred Stock is entitled to elect two directors at each shareholder meeting.

Series D Preferred Stock - The Company has 100,000,000 shares of preferred stock authorized, of which 25,000,000 shares are designated as Series D Preferred Stock, of which no shares are issued and outstanding as of December 31, 2009. The Series D Preferred Stock has voting rights with each share being entitled to the voting equivalent of 200 shares of common stock.

Trading symbol: SIVC
Cusip number: 78484Q202



In Reply To 'aml10021'

karan, brick, myth: I have been a long time holder of S3,
Ive followed the Ibox and occasionally the message board, but infrequently. In Feb the 12/09 quarterly mentioned in "subsequent events" the 25mill Pref D (200votes/Pref)issued to officers as bonus for services rendered.(this was also posted on the ibox but as none issued as of 12/09). there was no clarity on whether or not these were convertible to common and if they were convertible would it be at the 1:1 as the other nonvoting preferred shares, or would the be at 200:1, or not convertible at all. This uncertainty in my mind led me to sell approx half my position on the runup to .001; I still follow the progress being made with the portfolio companies and would like to buy back in if i could somehow be assured that the preferred D shares if convertible would be so at no more than 1:1.
Is there any way you can get a clarification from the company on the issue of convertibility of the pref D shares. thank you

[Myth]

Hi, nice to see you again...you need to stop around more often, you might miss something !!

lol

My thoughts are this, I can't see how these Pref D's could be convertible. IMO they were issued for one reason... voting power

( control )

I would have a hard time accepting a " bonus " given to anyone who doesn't work for the co..that being..

Xiaoxin Wu

He is a major shareholder.

Hope this helps..