There are 100M series E shares authorized and 41M outstanding. GDSM is negotiating the return of some series E shares as well as the reduction of the conversion rate.
At the current conversion rate, the conversion of all of the outstanding series E would increase the O/S to 1.5B but not exceed the current A/S of 2Bil.
The quarterly filing is due within 45 days of end of the company's fiscal quarter. (due by 8/14/13)
The shares converted and sold were to pay the auditor and SEC attorney for Form 10 filing.
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