Posted On: 02/07/2016 12:35:26 PM
Post# of 5417
Does anyone have information on the preferreds? Features - conversion to Common, Voting, other?
The latest quarterly report does not show preferreds in the Security Information section (3) at all, but some Preferred A shares are listed in the insider disclosure section (7). And I see no records in any filings relating to the issuance of the shares, only one relative piece of information that shows 2MM Preferred A authorized. The insider disclosure shows that there are (at least) 2,080,000 shares issued... so that's already over the previous record of authorized shares, and I cannot find any disclosure that shows in increase in the A/S. Since the disclosure section (7) only requires reporting of ownership of 10% or more... it seems also possible that additional preferreds are issue to affiliates or creditors.
Anyway, what I'd like to understand most is the Preferred-to-Common conversion ratio (if any), as well as any peculiar features like anti-dilution or whatever, and how many are authorized/issued.
TIA
The latest quarterly report does not show preferreds in the Security Information section (3) at all, but some Preferred A shares are listed in the insider disclosure section (7). And I see no records in any filings relating to the issuance of the shares, only one relative piece of information that shows 2MM Preferred A authorized. The insider disclosure shows that there are (at least) 2,080,000 shares issued... so that's already over the previous record of authorized shares, and I cannot find any disclosure that shows in increase in the A/S. Since the disclosure section (7) only requires reporting of ownership of 10% or more... it seems also possible that additional preferreds are issue to affiliates or creditors.
Anyway, what I'd like to understand most is the Preferred-to-Common conversion ratio (if any), as well as any peculiar features like anti-dilution or whatever, and how many are authorized/issued.
TIA
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