Replies to post #57900 on Starfleet Innotech Inc (SFIO)

[EliteYoda]

To be fair, I will say though that because the wording in the by-laws for the voting power of the Series A pref shares is so elusive, there is another way to interpret the converstion ratio for voting power. The by-laws state,

"Each share of Preferred Stock Series A has the power to exercise voting of a number of shares equal to 110% of the total number of common share votes as a pool with the common shares, divided by the number of shares of Preferred stock Series A issued"

So one can interpret the 'pool of shares' with the common to be the entire voting float (400M) and that each pref series A share has the voting power of the entire voting float plus 10% (110% total) and then divided by the pref stock series A issued which is in fact 1M.
If it is interpretted in this way then..

(A)The total number of Series A preferred shares Roth owns --> 100k
(B)The total number of Series A issued --> 1M
(C)The total 'pool' of voting common shares, assuming that all votes are cast from the float --> 400M
(D)Number of equivalent voting shares (in the pool) for which Roth can effectively vote on --> ?
Now, we perform ..

D = A[(1.1)*(C/B)]=100k[(1.1)*(400M/1M)]= 44,000,000 voting shares

However, instead, if it is in fact the case that Roth actually owns 1M pref series A shares and we interpret the conversion ratio of voting power in this way then Roth's voting power would be 10 times that amount, so would be 440,000,000 which would in fact be greater than the voting power of the common shares (entire float) which is 400M voting shares. I think shareholders need clarification and verification on exactly how many pref series A shares Roth actually owns AND the exact definition of how those pref series A shares could be converted when executing a vote because IMO the language is unclear and leaves much up to different interpretations. What they seemed to be explaining was a normalization process in which case the end voting power would be normalized by way of dividing out the total number of preferred shares (otherwise known to be 100M) but the filing has the wording specifically normalizing by only by way of the series A pref shares which does not make sense to me and seems to be yet another typo ('...divided by the number of shares of Preferred stock Series A issued...'). :/

Anyone up for sending another email or phone call into the abyss that is SFIO management? :/

GLTA

$SFIO!

[pitadog]

The filing states that G. Roth paid $1k for 1M shares....(later, they screwed up and said less....just ask the T/A about it and let us know. Whether other insiders own part of them doesn't matter.

You are leaving out what I said a couple of times....if there was a massive R/S, then Roth or whoever owns the Preferred A shares would control the company. All based on what these jokers are revealing to us. Understand?