What you are referring to is the fully diluted market cap and you are very correct. Preferred shares that are given a set conversion amount (regardless of time and amount restrictions) are factored into the valuations. I have said since the beginning of this preferred share debacle of CDFT if we have an accurate amount of preferred shares I could show where the company falsely inflated the fully diluted market cap into the billions!!!!
It is the way the big boards play in valuation. Compete scam tactic by CDFT IMO. Any underwriter or exchange would laugh at an application. It is just simple arithmetic.
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