Posted On: 03/29/2012 8:38:33 AM
Post# of 16816
Kilo, help me understand this please.
5mm authorized Preferred, 1m designated as Class AA Convertible convertable to 10k common.
Preferred series AA authorized and outstanding at 1m at end of 2011
Number and class of issuer's securities beneficially owned. 1,198,000 shares of Preferred Series AA
How can he beneficially own more than the authorized/outstanding number of the series AA? Also, your saying that he has nonconvertible preferred shares, would that be the remaining 4m shares of authorized preferred and how do we know these are nonconvertible?
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