Can someone explain this to me....How this works?
Post# of 39368
Posted On: 12/02/2014 6:00:12 PM
Can someone explain this to me....How this works?
Since the OS is maxed( most likely above) and some only want a 10 to 15% increase in share count, how can he convert?
Depends on the how the Preferred are written, but I suppose they could convert to cash which the company would pay upon redemption. .
And at a penny, 500m shares is 5 million dollars.
Do we have a prospect on the 100bpd? Anybody know of something?
Since the OS is maxed( most likely above) and some only want a 10 to 15% increase in share count, how can he convert?
Depends on the how the Preferred are written, but I suppose they could convert to cash which the company would pay upon redemption. .
And at a penny, 500m shares is 5 million dollars.
Do we have a prospect on the 100bpd? Anybody know of something?
Quote:
I was offered a salary by former management; it has not been paid. Our operating company holds a Preferred Stock Certificate that is convertible to 250 Million Shares at $0.01 per share, and if I’m able to bring on an additional 100 BOPD of production by the end of 2014 that turns into 500 Million Shares. It is time we make it very clear that what has been my motivation to seeing TREATY succeed, is in fact the same as yours as shareholders: production, cash flow and corporate credibility. Without it I cannot expect compensation from TREATY.
(0)
(0)