Posted On: 09/29/2016 5:02:17 PM
Post# of 30066
Re: investorxc #24011
Again, I am not sure you can trust IR.
Here is what the 8K says:
On August 7, 2016, the Board of Directors (the “Board”) of Amarantus Bioscience Holdings, Inc. (the “Company”) approved amendments to each of the Company’s Series E Convertible Preferred Stock and Series H Convertible Preferred Stock which, among other things, (i) removes the variable rate pricing features of the Series E Convertible Preferred Stock and removes the variable rate pricing of the Series H Convertible Preferred Stock, (ii) changes the conversion price of each of the Series E and Series H Preferred Stock to a fixed price of $0.05 per share (no longer adjustable based on the market price of the common stock), (iii) changes the definition of a Qualified Public Offering to a public underwritten offering of gross proceeds of at least $10 million, (iv) modifies the mandatory conversion provision so that upon a Qualified Public Offering, 125% of the stated value of the Series E and Series H Preferred Stock will convert at the Conversion Price and (v) within five (5) business days of the filing of the amendment to the Certificate of Designations, the holders of each of the Series E and Series H Preferred Stock will get a special dividend in an amount equal to 10% of the outstanding stated value of the Series E and Series H Preferred Stock to be paid in additional shares of Series E and Series H Preferred Stock, respectively. Amendments to each of the Series E and Series H Certificates of Designation will be filed once the proper consents are obtained from the holders of the Series E and Series H Preferred Stock .
The 8K said "the board approved" BUT they need to go get consents of the Series E and H and then file amendments to the certificates of designations in NV.
They didn't. They last amendments filed were in April.
http://nvsos.gov/sosentitysearch/corpActions....NGS%2C+INC.
Until they amend the certificate of designations, the conversions remain at 65% (Series E) and 75% (Series H).
Here is what the 8K says:
On August 7, 2016, the Board of Directors (the “Board”) of Amarantus Bioscience Holdings, Inc. (the “Company”) approved amendments to each of the Company’s Series E Convertible Preferred Stock and Series H Convertible Preferred Stock which, among other things, (i) removes the variable rate pricing features of the Series E Convertible Preferred Stock and removes the variable rate pricing of the Series H Convertible Preferred Stock, (ii) changes the conversion price of each of the Series E and Series H Preferred Stock to a fixed price of $0.05 per share (no longer adjustable based on the market price of the common stock), (iii) changes the definition of a Qualified Public Offering to a public underwritten offering of gross proceeds of at least $10 million, (iv) modifies the mandatory conversion provision so that upon a Qualified Public Offering, 125% of the stated value of the Series E and Series H Preferred Stock will convert at the Conversion Price and (v) within five (5) business days of the filing of the amendment to the Certificate of Designations, the holders of each of the Series E and Series H Preferred Stock will get a special dividend in an amount equal to 10% of the outstanding stated value of the Series E and Series H Preferred Stock to be paid in additional shares of Series E and Series H Preferred Stock, respectively. Amendments to each of the Series E and Series H Certificates of Designation will be filed once the proper consents are obtained from the holders of the Series E and Series H Preferred Stock .
The 8K said "the board approved" BUT they need to go get consents of the Series E and H and then file amendments to the certificates of designations in NV.
They didn't. They last amendments filed were in April.
http://nvsos.gov/sosentitysearch/corpActions....NGS%2C+INC.
Until they amend the certificate of designations, the conversions remain at 65% (Series E) and 75% (Series H).
Quote:
According to IR there is- where do you see that?
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