Replies to post #3567 on Amerinac Holding Corp. (fka PAOS)

[Traderfan]

The only thing I see is now a pref holder can convert to common and hold more than 4.9% of the stock.

Yes that is the only change I can see overall. I think some people weren't able to convert any more preferreds into commons and now they can and of course subsequently can sell some common on the open market then.

But if this is the only change they could have just amended the existing preferred shares IMO. Not sure why they created a new class of preferred shares.