Posted On: 08/08/2016 5:39:03 PM
Post# of 30071
I understand that management gets to continue to receive a salary. But the Series C preferred is a great example of how hard they have been hit by their own utter incompetence.
On April 1, 2013, the company created the Series C preferred stock in order to issue 750,000 shares of Amarantus to officers and directors. Each share converted 1:1 into a total of 750,000 shares of common.
At the time, those shares were worth $60,000.
After the first split, those 750,000 shares convert into 5,000 shares of common.
After the next split (which - at best - will be a 1:5), the Series C will convert into 1,000 shares of common.
Gerald Commissiong gets 466.66 shares;
John Commissiong gets 266.66 shares; and
Marc Faeber gets 266.66 shares.
Currently worth a total of $225.
WOW. It is almost comical if it wasn't so devastating to all.
On April 1, 2013, the company created the Series C preferred stock in order to issue 750,000 shares of Amarantus to officers and directors. Each share converted 1:1 into a total of 750,000 shares of common.
At the time, those shares were worth $60,000.
After the first split, those 750,000 shares convert into 5,000 shares of common.
After the next split (which - at best - will be a 1:5), the Series C will convert into 1,000 shares of common.
Gerald Commissiong gets 466.66 shares;
John Commissiong gets 266.66 shares; and
Marc Faeber gets 266.66 shares.
Currently worth a total of $225.
WOW. It is almost comical if it wasn't so devastating to all.
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