NO THEY WILL NOT BE WORTH $0.20 at the time when you go to redeem them unless the price of the stock is .20 or more. How can guys not get this? They will be worth FACE VALUE!. Its stated simply in the PR. FACE VALUE will be the price of the stock at the time.
so 1,000,000 shares = 5714 preferred shares on March 14...
On Sep 17, you can redeem those 5714 shares for FACE VALUE...
FACE VALUE is whatever the stock will cost on Sep 17.
So.. if its $.001 per share = .001 x 5714 = $5.714
or if its $.01 = .01 x 5714 = $57.14
$0.10 = 0.10 x 5714 = $571.4
But if it is above .20, you can get 1:1 trade of your 5714 shares into common shares.
I mean you still get money for free so im not complaining. Im just trying to correct all the people that are doing your math wrong.
and SUBS actually supported my claim, he didnt go agaisnt it. He knows how it works.
THIS MATH SHOULD BE STICKIED NOT OSU's which i am replying to.
Market Data 
Markets 
AI
