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Posted On: 05/13/2019 1:26:18 PM
Post# of 72442
Overly serious question for the board and specifically for anyone who is seriously adept in regard to share structure, preferred share conversion and the like.
If we don’t know when when and what price preferred shares are converted to common shares, how do we know that any entity cannot for certain, own more than 9.9% of the company? If at some point the stake hits 9.9% and the holder still has preferred shares, can they not convert? If so, can they refuse to continue to provide agreed upon funding?
Serious replies please.
If we don’t know when when and what price preferred shares are converted to common shares, how do we know that any entity cannot for certain, own more than 9.9% of the company? If at some point the stake hits 9.9% and the holder still has preferred shares, can they not convert? If so, can they refuse to continue to provide agreed upon funding?
Serious replies please.
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