Replies to post #49771 on Drinks Americas Holdings, Ltd. (DKAM)

[freebies]

Look at the directors conversion.

Giving up warrants to buy 9,838,793 common shares and get 59,743 preferred C shares instead. How can that be. with each preferred valued at $1000 so its worth $59,743,000 if my calculation is right.

If put the value for 9,838,793 shares in today's terms the value is around $50K. Unbelievable..... and of course penny got 1 pref.C share for each $1 owed to him by the company. So that's 50 million dollars in worth I guess.. again totally ridiculous.

I believe there is a typo or error otherwise I guess PK don't intend to run the company rather share printing press... JMHO

[BCInvestor]

KEZZ, YOU GUESSED IT!!!

WHO CALLED IT???? I DID!

ONCE AGAIN THE QUEEN OF DD ON DKAM PROVES RIGHT.

Good luck to all longs. I suggest, just as I have in the past, that the longs get together and file a lawsuit against DKAM and PK.

ALL MY HUMBLE BUT CORRECT OPINION.

[Longandstrong1]

I also find it hard to believe that PK got $1000 worth of preferred for every dollar owed to him, or that the directors recieved $59 million worth of preferred. It would never become convertible or liquid. I expect to find out that the typo in question is in the original filing for the preferred.

Instead of..."Each share of Series C Preferred Stock will be convertible into the number of share of the Common Stock equal to the Stated Value of $1,000"

It should read..."Each share of Series C Preferred Stock will be convertible into the number of share of the Common Stock equal to the Stated Value of $1"