Pop: Never said Liben can't vote with his shares, he most certainly can.
It's in the proxy, you'll see what I mean
I agree beneficialy owned shares don't have to be converted to vote, again, if we are using the 5B cap, him taking the 444M shares most certainly crowded out the unconverted votes YA had
YA Global Investments, LP (9) 446,090,895 9.99%. Share on 6/25
Comprised of
(9) The address of YA Global Investments, L.P. (“YA Global”) is 1012 Springfield Avenue, Mountainside, NJ 07092. The information presented herein is based on information provided by YA Global and based on the records of the Company. Ownership includes 3,395 shares of Series D Preferred Stock owned by YA Global; 4,321 shares of Series C Preferred Stock owned by a related entity, Yorkville Advisors GP, LLC; 41,237,113 shares of Common Stock owned by Mr. Gerald Eicke, an officer of YA Global. Our Series C Preferred Stock is entitled to vote on an as-converted basis with holders of our Common Stock with respect to the amount of Common Shares receivable upon conversion of such preferred stock. The holders of our Series C Preferred Stock are subject to contractual limitations in regards to their beneficial ownership, including their ability to exercise their voting rights, to the extent that they cannot exceed 9.99% combined beneficial ownership. If such holders were to declare us in default or if they issue a notice waiving the 9.99% limitation, upon 61 days notice, and comply with the SEC’s beneficial ownership reporting requirements for affiliates, they would be able to vote their Series C Preferred Stock in full on as-converted basis. Further, based upon 9.99% limitations, YA Global may exercise up to 404,853,782 of the 499,990,063 warrants they hold in conjunction with the convertible debentures they hold.
Then on 6/25 Liben gets his 444M
So share count on 6/27 was at min exactly
4,909,818,773
Sure, YA can use the unconverted Bene shares, but only up to 5B
So they could use the unconverted 4.909 to 5B is all
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