Replies to post #33226 on Intellicell Biosciences Inc (fka SVFC)

[ImOnABoat]

CONVERTED PREFERRED - YES. Until they are converted they are just a one million of preferred type B shares that will be written in a separate column in the next quarterly filing.

One column:
Common shares authorized and outstanding: 1.5B AS and whatever OS.

Second separate column:
Preferred Shares B outstanding: 1,000,000.


Once and if the CEO is seeing that someone has got too many of the outstanding common shares of the company, he can convert his preferred at 1:1000 rate and then we have:


One column:
Common shares authorized and outstanding: 2.5B AS and whatever OS.

Second separate column:
Preferred Shares B outstanding: 0.


I don't see how I can make it more clear. What's important is why the CEO became discontent with his 500,000 preferred shares? He could only prevent hostile take over up to 500M OS with them, and so he would need to increase it if the common share OS is higher than 500M.

I hope that helps.