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grongron50

01/03/11 11:13 PM

#88210 RE: Renee #88208

Yes, Renee, but they converted their preferreds to commons, no? How did they regain control of the preferreds without a shareholder vote? If they sold the commons they no longer had the right to undertake any corporate action without a majority vote. Did they just wake up one morning and gift themselves the preferreds? Is that allowable under Nevada corporate statutes?

I don't know the answers but they're interesting questions.